Market Reaction – Gravity Bites As Draghi Serves Cold Plate Of Epic Disappointment

by Tyler Durden
ZeroHedge.com
08/02/2012

As he began to speak the EUR rallied, EGBs rallied and ES rallied – last minute hopiness wrung out of the system, but as soon as he explained that his plan to promise a plan which plans to promise a solution was nothing but another promise and not an actual plan, so everything reversed. S&P futures are -17pts from pre-Draghi, Gold back under $1600, and the USD is ripping higher, Treasury yields are down 8bps from pre-Draghi, EURUSD is down 50pip sfpom, pre-Draghi after trading up over 1.24 as he began, and has retraced over 75% of the post-Draghi ‘believe’ speech. Spain and Italy have given back the immediate euphoria with Italy now 50bps wider from pre-Draghi and Spain +25bps (having retraced over 60% of the post-‘believe’ rally).

The Rest…HERE

This entry was posted on Thursday, August 2nd, 2012 at 9:29 am and is filed under Conspiracy, Corruption, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.