Monday, March 18, 2013

The Risk-Off Trade via Cyprus

Take a a few days off to partake in a 10K race and coming back to a renewed melee a-la Europe. So far, equities are looking to take a hit while gold is trading up.Index Futures are well off in early trading.

Index Future Future Date Last Net Change Open High Low Time
DJIA INDEX Jun13 14,350.00 -92.00 14,389.00 14,389.00 14,271.00 07:45:00
S&P 500 Jun13 1,539.80 -14.60 1,545.30 1,545.30 1,529.60 07:43:58
NASDAQ 100 Jun13 2,764.50 -27.50 2,778.75 2,778.75 2,749.00 07:44:44

This is while PIMCO's Gross Tweets.....

Gross: Cyprus deposit haircut moves risk-on trade to backseat. Sell Euro as well.

Most definitely a risk-off day. Will have to see if it turns into something more. 

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