Photo: Flickr / boklm
Michael Block of Phoenix Partners passes along the topics of conversation he’s having with clients:
- President Obama speaks at 1:30PM today from the East Room. Rhetoric overnight sees him not budging on his opening gambit – $1.6 trillion in tax hikes over 10 years. Market will not like this, but this is politics.
- German two year auction at a negative yield – the last time this happened was July and was a contrary indicator.
- Greece looking like a month end event. Spain looking like a 2013 event.
- CSCO was less worse rather than better. How it holds up is a big tell.
- ANF and SPLS show just how important sentiment is in this tape and especially in the consumer sector.
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