The European stock markets are lower on the day after what was called, "profit taking" yesterday, but I'm not so sure as the Bond market is telegraphing something very ugly in Portugal.
The Portuguese 10 year bond last seen at 8.66! That is wildly high, something is being priced in by bond traders and it's not good.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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