June 17, 2010
Stocks Called Higher after Spain Debt Sales Spurs Risk Demand
U.S. equity markets are called higher this morning after a flat trading day on Wednesday. Global markets received a boost a short while ago after it was reported that the
auction of Spanish Bonds was oversubscribed.
This news helped ease concerns amongst traders who were taking a cautious approach to the long side of the equity markets after it was reported on Wednesday that the
International Monetary Fund, the European Union and the U.S. Treasury had opened a $307 billion credit line for Spain.
Risk appetite rose on the news about the Spanish Bond auction sending stocks higher after a lackluster night session. On Wednesday, U.S. equities finished flat after a
mid-session attempt to continue the recent rally failed because of risk fears in the Euro Zone and a weaker than expected U.S. Housing Starts number. Now that tensions have eased about Spain, traders
will focus on the slate of U.S. economic reports today.
The first …
