In the wake of no new data, investors in Europe flicked the switch to risk while Wall Street also enjoyed a bounce.

It seems that punters had enough with the ‘risk off’ trade last night and we saw a bounce back on global equities. There wasn’t much in the way of major news or data flow or anything, so realistically last night’s moves could have gone either way. Especially with Fitch coming out and downgrading a bunch of Spanish banks again. That saw the Spanish 10-year shoot up to a euro era high of 6.82 per cent (from 6.48 per cent) and the Italian equivalent up to 6.15 per cent from about 5.85 per cent. That action alone could have sparked another rout, and it almost did with most of the major indices taking a tumble soon after (the Dax fell almost 1 per cent), some even slipping into the red. But as it was we saw some tentative gains on the Dax (up 0.3 per cent), and the CaC (up 0.1 per cent) – both only just managing to claw back gains lost after Spanish yields spiked. Only the FTSE managed a decent gain of 0.8 per cent.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles