The UK has been through governments, seen the central bank panic buy bonds and stumbled into a near death experience in the bond market.
As the market crawled through that swamp over the past month, something happened: a series of higher lows.
Late last week when the US dollar rose, it looked like it might fall apart, but it has risen for the past two days, further underlining the trend.
that does not mean everything is good. The 300 pip rally in the last two trading days only brings it back to Wednesday levels and it would take almost another 150 pips to break above the October highs. I am also concerned about the economic impact of the looming austerity and spending cuts, which will be announced on November 17.
Finally, all European businesses depend on the weather this year and how cold the winter will be. Until now the forecasts are promising but the time is the time.
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