LTRO2 Volatility - Tuesday 02-28-12
The SPX 500 sits about 3 points higher than Mondays close on the S&P 500. We had a slight pullback on lower than expected core durable goods release along with a poor C/S release. The markets still remain propped up as we await tomorrow’s LTRO2.
Yesterday, Greece was downgraded by Standard and Poor’s to “Selective Default”. Today we have Finland voting for the Greece bailout. The markets remain quite choppy at the moment as we approach the end of the month. Be sure to watch US CB consumer confidence and FOMC statement at 10:00am EST.