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Market Pulse: Bund at new high as euro zone PMIs disappoint

Sunday, March 04, 2012 - 03:57

Mar. 5 - The euro zone service sector shrinks more than expected in February, hitting European markets. Stocks, financials, gold all down but Bunds hit a new high.

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European assets like that the universal service sector shrinks and pregnant and China -- has 2012 growth target. This is today's market pulse of the you know stops and most -- -- -- sovereign bonds all look today. The -- extension is the German bund which is a new high. Mortal not wakes up but first those PMI numbers I'm joined tonight by -- -- but just pulling -- have helped compile the Boston good to see yet so the eurozone as a whole the service sector as a whole contracted more than expected but what did not. What was this what was the standard for you. Well it's it's the usual story that just seems to be getting more and more intense. France and Germany not doing much of anything hardly any growth at all. But the Euro zone troubled periphery countries. Getting worse the real stent that was Spain. The numbers are clearly recessionary. And it was a huge drop in in the number well below the consensus forecast and well below the lowest forecast had. Which was the -- was far too far you know the consensus of 45 point nine in the lowest people this 45 point -- and we went to 41 point nine which is a big big drop during the month. In -- thing keep in mind with these these -- -- not so much the level but how much they move. I'm about you on the street from focussed again Ireland was also -- stand out yet time for the right reasons. Yes for the right reasons indeed I mean obviously a very small small portion of the Euro zone economy as a whole but one of these. Countries that this seems to have gotten itself or at least starting to get itself out of the hole export orders. Greta fast -- -- here. Explode -- if you yes that good you're gonna churn the same currency as well as other countries are clearly something is going right in Ireland and there's there's there's something. Something to be happy about there. Perhaps some of those exports are going to UK -- -- -- -- -- them. The UK can rise to do that. As glass half full because -- still -- -- to look at as half and take because you don't just want. Well I think for our own sanity let's look at it says glad they're glad glass half full I think I think the UK clearly is is doing better. Then countries in years down. And this does not take it off of the growth trajectory path although it is a little bit worrying to it to come off as much as it did. And of course though I -- what we talk what I was exposed to indicate. UK exports go -- it beautiful and do exactly so there's there's no room for complacency here in London the -- the UK economy is attached to the Arizona one. And if we had more trouble in the Arizona clearly those UK figures are gonna of course. Ross thank you very much. So what is a political local and eurozone recession in particular so every investor sentiment today. This species the -- future outside new record high and price 140 felt tonight. And that's good volume driving that suit trading volume last week a strong week was almost four million loss the highest weekly total so far this year. Perhaps some of that ECB hot -- you -- loaned to banks last week. Finding this -- the safest haven asset of all. Another safe haven asset in the fading quite -- today -- gold -- down 1%. But -- 17100 dollars and -- is another text of the key technical support the 100 day moving average looks to be on the cots. Outlet today comes in at 1692. News. I'm finally you know is on financials done more than 2%. As this chart shows there's a fierce battle going on between The Who was embarrassed and on the 200 day moving average. The daily closing above on Thursday and Friday looks like -- could be false breaks that 200 day moving average today coming in and and 11650. What was today's market pulse join us at -- -- GMT the daily -- volume market pulse but we look at what's moving in markets and why. I'm -- we gave up this is what.

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Market Pulse: Bund at new high as euro zone PMIs disappoint

Sunday, March 04, 2012 - 03:57