Tuesday, August 02, 2011

Morning start...fkli soft 1553-56 fcpo soft 3110-20

DJ -10, a weak manufacturing report quickly deflated that debt deal optimism -- leaving stocks little changed as investors await a House vote. EU -1%.

Regional near -1% amid weaker than expected DJ. Commodity mostly lower. US$ mixed. US 10-y bond demand remains strong. CO -2%


FKli still good for 50-60 but likely defensive start, in and out of 55 first. No fresh +ve if under 60 and dwward bias amid weak external.

Fcpo SO -0.2% strong Mon but no encouragement from SO today. Sideways, 3100-3140 range. -ve tone if under 3120 today.

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