USD Trading Outlook (23-07-2012)
U.S. Dollar Trading (USD) Yields on Spanish 10 year debt leapt above 7.3% on Friday in what is being dubbed ‘Black Friday’ in the Spanish Debt Crisis. Risk aversion spread like wildfire throughout the markets with 10yr US debt falling to its lowest Yield on record at under 1.5% in stark contrast to the Europeans as Bond Investors flooded back to the safe haven of US bonds. Spanish stocks fell near 6% and US stocks fell over 1% and the USD surged higher. Looking ahead, No Economic Data Tonight.
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