Copenhagen, Bomb Plots and US Index Futures
Financial Comments from Simon Denham, Capital Spreads.
The potential huge cost of any agreement at Copenhagen has been seen off as self interest (naturally). That came to the fore…at the end. In reality the chances of the West cutting back to the emission levels suggested was quite limited – no matter what our politicians agree to.
Any signature would have possibly sent us into a thirty year industrial decline. The idea that the emerging nations would serve their citizens so badly as to restrict economic growth to such an extent by agreeing to the limitations was always fanciful.
For all of the woes waiting to happen due to climate change it is unlikely that economic straitjackets will ever achieve more than lip-service.
On the other hand the news of a lunatic trying to blow up an Amsterdam/Detroit flight might have sent the markets sharply lower as paranoia spreads once more across the globe. For once, traders seem to have held steady.
This might be the best indicator for immediate directional impetus. The failure of the sellers of US Index Futures on Sunday night/early Monday morning to get any traction at all was illuminating.
For more also see today’s Spread Trading News
Good Luck!
DB
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
Content provided by Capital Spreads which is Authorised and regulated by the Financial Services Authority. FSA Register number 182110.
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