Just shorted some T-bond futures in the wake of the debt deal announcement. The amount of spending cuts agreed to is little more than a rounding error - less than $2T over 10 years, with a super-committee (would make me laugh if i wasn't crying) to decide on more cuts w/automatic triggers (yeah, right) if Congress doesn't take action. My first take is that this is not austerity, or anything near it. Gonna sleep on it and see how I feel in the morning.
Covered the short for a big 5/32 profit. Bonds should be sharply lower on the debt deal news and they're not. Tells me it's time to step aside. I notice Spanish and Italian shares have given up their gains and are now red on the day, despite a melt-up in equities elsewhere.
For those playing along at home without a Bloomberg terminal, the following chart: http://www.bloomberg.com/apps/quote?ticker=.IT10:IND is very useful. The Germany-Italy 10 year spread. Interesting to see that $MIB and $IBEX are down (and $CAC is up) despite Italian and Spanish yields down a bit. And wow at USD/CHF down to 0.7825
Yeah, I run my poor man bloomberg terminal every day -IB data quotes and data feed -Oanda news streaming(Dow Jones feed plus UBS and 4Cast; A bit delayed but important data comes usually in less than 30 sec after it happens) -Bloomberg site data and bigcharts
I also have a poor man's Bloomberg terminal, but Twitter subscriptions to some news sources and commentary sources are a great tool to add to one's arsenal. Do you have a link to the Oanda news streaming feed? Or do you need to be a client to get access to this?