12. August 2011 04:01
The bond market is essentially flat after selling off heavily yesterday.
Yesterday’s risk rally in North American carried momentum into overseas market sessions overnight, and this morning’s surprise print for US Retail Sales growth for July is helping to counteract the negative tone that has infiltrated markets of late.
In Europe, Belgium, France, Italy, and Spain have all banned short selling in stocks and derivatives on financials as vicious rumours have undermined market confidence this week.
Data out in the US later today includes consumer confidence and business inventories, and there is some important data out next week beginning with the Empire State Manufacturing Index on Monday.