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Vikram Saxena's  Instablog

Vikram Saxena
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Vikram is an electrical engineer by training and has held a variety of roles spanning multiple industries. He started his career in the semiconductor industry in the Silicon Valley, before moving to a proprietary trading desk at a bulge bracket investment bank in New York. Vikram has also... More
My blog:
The Inquisitive Mind
  • Breakdown in Appetite for US Based Assets 0 comments
    May 21, 2009 2:30 PM | about stocks: FXE, UUP, DRR

    Today S&P downgraded the sovereign credit outlook of the UK. There are murmurs that the US will be next. This is putting a lot of pressure on all USD denominated assets. The USD is falling, longer term treasuries are crashing. Unlike in the past where a falling dollar would help equities, the US stock market is under selling pressure and testing key support levels.

    I have added a short Euro position, since I believe that the Europe will follow whatever the US has to endure; they will be just a day late and a penny short. This is a risky position with tight stops, but the trend is likely to take a pause before the long weekend.

    Themes: currency, dollar, euro, bonds, treasuries Stocks: FXE, UUP, DRR
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