Wednesday, 29 April 2009

GDP figures and revisions

L: 66% S:12% G: 78% N: 54% ~ $D -12% $G 152% $V 2% $P 0%

Its an interesting to see the market reaction to US GDP figures, even though they were worse than expected the fact that consumer spending was better than expected seems to have shored up the market. Its also interesting to see Germany revising down its GDP, it makes the UK Treasury forecasts seem even more ridiculous!

The Raven is long EUR now, and hoping that we eventually breakout of the 200d resistance trend, however long term he's very bearish the EUR, the ECB have been behind the curve, France and Germany seem to prefer preaching to ploughing the fields.

More dripping of news about the stress tests, it appears that 6 banks out of 19 will need capital, although this appears to be a conversion of pref to common shares, this doesn't make a huge amount of sense to the Raven, and the market seems non plussed.

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