Monthly Archives: September 2012

The MorningSnapshot- 09/04

European stocks are retreating this morning, paring yesterday’s biggest rally in a month after Moody’s cut the EU’s ratings outlook to negative on risks to Germany, France, Great Britain, and the Netherlands. Sentiment in the fixed-income markets is positive, while in the equities realm remaining mixed at best. Most commodities are trading higher, and sovereign debt spreads in Europe to bunds are contracting, with Spanish and Portugal spreads falling -26.4bps and -24.5bps respectively. The 10yr U.S. Treasury is up +3bps on the day to 1.579%, while German bund yields rose +2.5bps to 1.4%.