Wall Street was up yesterday with DJIA and S&P 500 gaining 0.65% and +1.03% respectively. European peripheral yield spreads also narrowed as Merkel and Sarkozy had reached a ‘comprehensive’ agreement on treaty and fiscal rule changes. Meanwhile, Italy’s new fiscal package worth of 30B euro was also taken positively.
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Sentiment Dampened as S&P Warned on Unprecedented Downgrades in Eurozone
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