A 10-Second Guide To What Traders Are Chatting About This Morning

Chicago Trading Floor

Dave Lutz of Stifel, Nicolaus passes along the topics that he’s talking about with traders this morning.

We summarize in bullets:

  • EU markets off a touch. Spreads wider on news that Italy will miss growth targets.
  • Markets closed in the UK.
  • Dollar index showing strength. Yields unchanged.
  • Not much stress in markets related to situation in Israel/Syria.
  • Lots of talk about the strong defensive stocks. From Bloomberg: :  “Defensive shares such as JNJ and PG have rallied 19 per cent on average in 2013, the best start since 1991, and exceeded cyclical stocks by more than 8 percentage points last month, the most since October 1998. As long as the economy isn’t shrinking, a gap of that size has presaged rallies of 10 per cent in the Standard & Poor’s 500 Index since 1973”

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