week back from holiday that proposes an interesting theme for the various asset classes. The year 2011 opened on a positive note, with stronger than expected economic data, rising shares and bonds in folding. Among the indices of the Old Continent are more signs for Dax, Cac, FTSE and FTSE even Eb, thanks to the latter component of Oil of the basket, only the index down heavy English. The indicators are overbought so very strong probably be possible to release the downside sull'azionario indicators from this phase. The spread of the peripheral countries in Euroland have undergone yet another expansion, although Spain and Portugal have reported being able to hit the deficit targets for 2010. Despite this, credit default swaps on government debt of peripheral European countries seem to show that the market expected a worsening of the situation. This is confirmed by the increase in spreads of the securities of euro area senior bank debt and the fall of the euro against the major currencies.
The raw materials were declining by about 2% this week on fears that the ongoing monetary tightening in China will lead to a drop in demand. Even the voices of regulation to prevent individual operators to hold large shares of the stock of raw materials at the commodity exchanges have contributed to the downsizing of quotations.
Chart Euro vs Swiss Franc: the cross eur / chf is recording new lows, the weakness of the euro is determined by the uncertainty on the public debt of the peripheral countries of Euroland.
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