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rnufnwft38
07-07-2015,

Rudolphdal
07-07-2015,

eyfmeofh22
07-08-2015,

irogonosulugy
07-09-2015,

lupapec
07-09-2015,

fqphxycc14
07-09-2015,

admin
05-21-2016,
Was out of town a couple days and couldn't devote the time to analysis. The last two trading sessions were quite eventful with confirmation on Thursday of the market's suspicion that ECB president Mario Draghi would employ a bond buying program for distressed countries - the PIIGS. This was followed by a sub-par non-farm payroll report on Friday that came in at 96,000 leading to the market betting on more stimulus from the Federal Reserve. A couple of caveats to keep in mind as we look at the charts: First, the EU bond buying program is of the sterilized variety meaning no increases in the monetary base will occur as a result of the plan as it was laid out on Thursday. This does, however, have implications for US Treasuries as money flows may leave the safe-haven assets and move into the three-year-and-under maturities that will be purchased by the ECB. This of course translates to higher Treasury rates in the USA. Second, the NFP report was bearish at under 100,000 jobs and while the odds are probably greater than 50% that the Fed will initiate further easing in some form or another there is no guarantee this announcement comes at the September meeting which leaves significant downside risk to risk-on assets if the Fed disappoints those betting on stimulus.