Comment on Markets Surge on Positive EU Summit Outcome

Markets Surge on Positive EU Summit Outcome

NEW YORK (BBH FX Strategy) -- Global stock markets continue to surge after news that European policy makers had forged an agreement at the emergency summit. While we expect this is unlikely to resolve all fundamental challenges that plaque the euro zone, the outcome of the summit is likely to have satisfied market expectations. As a result, EZ spreads have come in sharply, European banking shares are 7% higher and the dollar is softer across the board.

 

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