On Wall Street Trading Desks, This Is What They're Chatting About Right Now

telephone operator switchboard

Photo: Joseph A. Carr, Wikimedia Commons

Dave Lutz of Stifel, Nicolaus tells us what he and his clients are chatting about this morning.

  • Overseas markets are generally a bit higher. Copper is the best performing commodity due to strength in Asia.
  • UK government borrowing is running significantly above target, but the Pound is at a 5-month high.
  • Italy slashed its economic forecast. Country now sees just 0.2% growth in 2013.
  • Japanese companies report delays in Chinese customs.
  • More unrest in the South African gold sector.
  • There is a “golden cross” in gold. The 50-day moving average has crossed back above the 200-day moving average. Bullish.
  • The IMF says Spain needs more money than is believed.

Overall, the tone of what we’re reading is one of “meh.” Spain is in a holding pattern. Greece seems to be at a standstill. Markets aren’t moving dramatically in any direction.

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