Is the Euro Driving the S&P500?
By Global Macro Monitor
In case you have noticed recently the Euro and S&P500 seem to be moving together almost tick for tick. Here are the daily moves in futures over the past month. Makes you think they’re both dancing to the same tune by the Algorithmics, no?
P.S. It doesn’t look like the first day of the Euro “summit to end all summits” went well. Let’s hope the Euros get it together or we’re all gonna be in a world of hurt.