Italian government bonds are not overvalued versus German peers, despite the substantial tightening in the BTP-bund spread during the past few months, says Dresdner Kleinwort strategist Marcel Bross. “In fact, our model renders BTPs on the cheap side versus bunds,” he says, adding that the major drivers of the BTP-bund spread argues for continued tightening. Therefore, Dresdner Kleinwort reiterates its recommendation to stay overweight BTPs at the expense of bunds, Bross says.
The housing market has been dominated by buyers for years, but the latest
existing home sales data suggests that may finally be changing. And Wall Street is starting to buy in.
A simple definition of a “buyer’s market” is that the buyer holds the cards.
They determine what they are willing to pay, then wait for the seller to call.
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Crude oil futures traded at their highest levels for three weeks Friday as European equities extended their rally to preserve hopes that economic recovery and an associated increase in crude demand is underway.
ICE September Brent traded within four cents of the psychologically important $70 a barrel mark, as European equity indexes reached their highest levels in six months or more.
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