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Time To Look Away From Greece

07 July 2015 by lberuti

Much attention has been paid to Greece recently, and it has eclipsed pretty much everything else over the last week or so. It was front and centre today again, but some other themes are starting to emerge. The collapse of Chinese equities since mid-June, and the sell-off of the oil market (Brent and WTI which lost roughly 15% since the beginning of the month) are grabbing some attention. On the back on these negative headlines, the sectors of the commodities and energy were put under pressure. AALLN (Anglo American Plc), GLEINT (Glencore Plc) were the main casualties of the session, and they saw their 5 year risk premia raise 25.5bps to 217.5bps and 22bps to 204bps respectively. Also, tomorrow will mark the beginning of the reporting season. We shall see whether this can get a bit of attention as well.