And as certified analyst Petros Steriotis comments, while the mighty Central Bank of the USA seems to be leaving the usual cheap money policies in the closet of history, the foreign stock markets are leaving a bitter taste at the end of the summer calendar. The perception that even the slow-moving ECB will attempt to tame the index, starting with next week’s announcements, hits all assets, with those with higher betas showing the greatest sensitivity to economic cycle turbulence.
Of particular interest will be the statements of ECB officials regarding the “safety net” spread under Greek government bonds, with the ten-year and twenty-year bonds now giving an annualized yield of around 4%. Let’s remember that the forex markets “voted” the Dollar against the Euro, thus valuing the development and energy prospects of the two important Economies, adds Mr. Steriotis.
Πέτρος Στεριώτης (Χρηματιστής) Petros Steriotis 