ES Rallied 9 points following comments by Chicago Fed's Evans who said he expects policy rate to stay "low for longer than mid-2013." For the short side to remain in play today, 1252-1254 needs to hold as resistance on the ES.
Italian bond yields are back above 7%. Yields this high are not sustainable in terms of Italy being able to meet their debt obligations. I remain biased to the short side.
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