Midday Missive

Draghi is still speaking.

The Bunds haveĀ  flushed to the downside taking yields higher in the Italians and Oats.

Our short end followed however the Long end is still in hover mode.

Curve is flattening with the press conference.
I thought the Long end would finally give it up.

That is not presently happening.

I think that was a fairly good blow off high in the Euro & Pound.

Look at the Multi-nationals again today.

Honeywell reports tomorrow. Based on the other Industrial names they should have a good qtr.


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