CS and UBS raise JPM. Mixed opinions on WFC with Oppenheimer down and Morgan Stanley up. Pre-market Faz near 22 and giving up a large part of Friday’s move. A bid below 22 and below where I got in last week beckons. No rush, we did drop 130 plus DOW points on Friday, much of that is getting taken back pre-market as slow Monday program shenanigans continue. For instance, see oil and gold open down and recover most of that already. Euro-yields must be falling as I see the CAC and DAX making large moves. Fake-out and/or another boring day?
David Walker on CNBC talking about the largest US – treasury bond holder being the Federal Reserve. By extension I auppose that makes some subset of the troika the largest holder of European bonds. How long can the major economies of the world keep financing themselves this way ? And if taxmageddon is really coming, and capital gains taxes might rise, what is the incentive NOT to book gains as this year ends?
Better than FAZ is a C play, who came in with light earnings, volatility drops as the stock pops undeservedly.
I really have no comments to make on Apple and Priceline.