Citi’s Fitzpatrick: Euro Under Pressure, Ready to Collapse!
- Citi’s Fitzpatrick – Euro Under Pressure, Ready to Collapse!
Today King World News wanted to share with its global readers a portion of top Citibank analyst, Tom Fitzpatrick’s latest report. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, covered the two key markets, the euro vs the dollar and bonds. Below were his comments with two important charts:
“U.S. 30 year yields held 2.50% twice – the first time in Dec 2008 and then again this year. A breach of that would leave the way open for the double top target in the 2.00% area.”
Euro vs Dollar: “Lower lows confirms the trend is still down and the sub 1.20 area should be tested. The 2010 low was 1.1876 and the channel base comes in at 1.1720. Note that end of May also saw a decent trend down on EUR/USD as German yields fell to zero and a U.S. long end yields trended down.
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