Europe Day Ahead: Draghi boost to markets may fizzle
Thursday, July 26, 2012 - 02:11
July 26 - European risk assets go on a tear after ECB president Mario Draghi says the euro will be saved, but an Italian bill auction tomorrow will test whether the boost to sentiment is any more than a blip.
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We -- -- Monday. The ECB. Is ready to do what ever it takes. To preserve the U room. And believe me it will be enough. European markets on cocktail as -- gives his clearest indication yet the ECB will do what ever it takes two of them calamity. Peripheral bonds equities and buy stocks on the -- it'll all sort of markets today also digesting Citibank's prediction that there is now 90% chance of Greece leaving the Euro. But even if that is a so called -- at some analysts say it won't solve any problems. Leaving you around having a draft well we clearly have. Big depreciation. Of the currency that stage but will that translates into. -- the expo booming grace and -- imovie dubious because I think. The impact would be mainly on inflation so Greece might not actually -- that much in competitiveness. I think inflation was tagged -- Found and I think Greece's problems -- primary structural. I'm Italian debt auction will test whether they're effective drug use remarks today it will still be felt tomorrow. Up to eight point five billion euros of six month bills -- on the block and norm. On the economic front jump in inflation figures the main release here in Europe. The frustrating expected to show that I -- rate holding steady at one point 7% in July from a month -- So not much so that -- best investors' attention from the US which is expected to -- GDP slowing to one and a half percent in the second quarter of from one point 9% in the first. Buckley is the big name to account for on tomorrow's Cummings calendar analysts looking for any impact from the -- a failed. Buckley's nine starting the world for a new C you'll have to former boss Bob Diamond was forced to -- done in the wake of the scandal. Well that's all from us and I but -- much has every day at this time but a look ahead of what's going to move markets. I'm -- to give up. This is what to.
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