As we approach day of the new year I'd like to take note on the significance of watching all global 10y benchmarks. The way these develop in a composite will give a cleaner trend based picture as to where central banks are "movving"
Near term out look: Neutral ( IE nothing that marginal pull backs in the periphery give way to better entry on financial equity stocks( JPM , WFC )
Long term out look: Bullish with a defensive fed likely to guide through potential "Tapering"