FXstreet.com (San Francisco) - The S&P 500 has closed the week at 1,460.15 after easing 0.11 pts, a 0.01%. ON the week, the index has posted 0.38% declines too but YTD, the S&P 500 is advancing an impressive 16.11%. But according to Miller Tabak's analyst Andrew Wilkinson it isn't enough as "Equity investors probably won’t stop until they see 1500 on the S&P 500 index."
The recent Fed QE move "sparked a five-year high of 1474 for the index and we are sure that the removal of what used to be risk-off catalysts is sure to propel the venerable index to 1500 before speculation dries up," affirms Wilkinson.
"Only weeks ago the prospect of a looming bailout plea would have rocked Spanish and Italian bond markets helping fuel a spiral in the governments’ cost of capital and culminating in deeper economic gloom," points the Miller Tabak analyst. "But with the provision of the ECB’s safety net in the form of its OMT, the likely request for a bailout is just the tonic needed by the bulls hung over after the Fed’s recent launch of QE3."
"According to the Financial Times Spain is in discussion with the EC to set the parameters for unveiling a bailout as soon as next week prompting the latest wave of asset buying," concludes Chief Economic Strategist Andrew Wilkinson.
The recent Fed QE move "sparked a five-year high of 1474 for the index and we are sure that the removal of what used to be risk-off catalysts is sure to propel the venerable index to 1500 before speculation dries up," affirms Wilkinson.
"Only weeks ago the prospect of a looming bailout plea would have rocked Spanish and Italian bond markets helping fuel a spiral in the governments’ cost of capital and culminating in deeper economic gloom," points the Miller Tabak analyst. "But with the provision of the ECB’s safety net in the form of its OMT, the likely request for a bailout is just the tonic needed by the bulls hung over after the Fed’s recent launch of QE3."
"According to the Financial Times Spain is in discussion with the EC to set the parameters for unveiling a bailout as soon as next week prompting the latest wave of asset buying," concludes Chief Economic Strategist Andrew Wilkinson.
