· Still some moderate optimism ahead of 1Q results: DJ +2.8%, S&P500 +2.9%, NASDAQ +3.3%, NIKKEI +0.3% and EUROSTOXX +5.7% and retreating by 0.32% right now.
· G20 : kind of an agreement (still to be confirmed on the field) but one common voice was enough to convince the financial markets.
·
· ECB : a shy 0.25% rate cut, which took every by surprise. Mr Trichet is definitely the new Hitchcock of the European finance.
· Oil : nice rebound.
· VIX is down to 42. Gold is down at 906.5 USD per oz while the oil price (BRENT CRUDE SPOT) is up at 52.7 USD. The USD is bouncing back a bit against the EUR at 1.34.3. CMS 10-2 years spread is stable at 1.57. The 5y CMS stands at 2.822 and the 3y at 2.338.
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