Five Things Everyone Will Be Talking About Today

May 18, 2015 Share Print 0

Greek bonds plunge, the dollar makes a comeback and why the S&P 500 is unhinged from reality. Here are some of the things that people are talking about in markets this morning.

Greek endgame gets closer

The yield on the Greek 2-year is surging this morning. Reports over the weekend highlighted just how close Greece came to not paying the IMF last week. The Greek government is now targeting a deal with creditors by Friday.

European bond selloff resumes

It’s not just Greek bonds taking a beating: bonds from Italy to Spain are also heading south. The yield on the Italian 10-year rose for the first time in three days, putting yields over 35 basis points higher than their level at the end of last month.

Dollar kicks off Monday on a high

The greenback is trading stronger against every single major currency this morning, ahead of a busy week for U.S. economic data. Housing numbers are released tomorrow, Fed minutes on Wednesday, a manufacturing PMI on Thursday and inflation data on Friday.

Fed’s Evans talks down 2015 hike

Federal Reserve Bank of Chicago President Charles Evans, a voting member on the FOMC this year, was speaking in Stockholm repeating his call to hold rates at a record low until early 2016.

S&P 500 unhinged from reality

According to the theory of one Nobel Prize-winning economist, this is a reason to be bearish U.S. stocks.

Bloomberg

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.