Forex Market Updates & Commentary

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Bobbys Corner-Open Market-May.17.2012 Posted: 17 May 2012 05:14 AM PDT Good Morning: A fairly quiet session-Especially in Europe due to the Ascension Day holiday. Spanish auction results helped raise 2.494 bln euros-but they had to pay up for the funds. April 2016 bond-yield at 5.106% versus 3.374% previously July 2015 bond yields at 4.876% versus 4.037% previously January 2015 bond yields at 4.375% versus 2.890% previously Italian 10 year bond yields touching 6%. The estimated cost of Greece exiting from the euro is being put at $1 trillion-but this is just an estimate-so I am certain that the real cost will be much higher. Nerves are taking center stage in the marketplace, as the entire Euro Zone is reeling in bad news, and the rest of the world is very concerned. The US is concerned that the contagion could cross the Atlantic, and those economies in Europe  that are not being so hard hit are always going to be cautious and concerned about their neighbors. Gold is higher-and Oil is just a bit stronger since NY woke up. Equity markets are lower-along with US Futures. HAVE A GREAT DAY & GOOD LUCK

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