Daily Strategic Report

OVERVIEW Markets have surged this week. European stocks soared on Monday and markets elsewhere have been following their leads. Does this mean we are all saved? Probably not! Today sees EU finance ministers attempt to put flesh on the bones of the EFSF. However, logically, whatever they do is bound to fail as it does not address the core weaknesses of the whole European project. Thus we are sceptical of the current round of euphoria, or ‘animal spirits’ as Alan Greenspan called it. Thus we

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