Main Markets Summary – Another Greek Bailout

The greek bailout staged a strong recovery day among most equity markets, the main beneficiary being the eurozone, a couple of emerging markets tagging along.

Details

Equities : A weak rebound in the US, however the fears of a short-term correction seems to be going away. A very impressive day in green energies (both Solar and wind)

There was a very strong day in the eurozone lead by the Greek Bailout with gains north of 3% for many countries. Most significant performers are Spain, France, Germany, Italy, UK & Poland.

The arab world is still having a hard time overall (below all MA), except Egypt that is showing strong short-term momentum since the revolt’s end. Turkey had a very good day too, perhaps staging an exit from a long streak of underperformance

Vietnam is closing the pack, showing the worst performance of all countries.

Bond Market : Not much to report, except maybe that junk bonds are overall still doing good (short and medium term momentum still positive).

Commodities : Mixed. Oil is still heading higher, starting to pull Nat Gas along. Cotton is edging up, trying to recover its former strength. It’s still the commodity with the strongest momentum (+134% TTM)

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