Buried, but thinking

TMM are buried with their day jobs today, so though we would love to write reams, it will have to be a very brief one.

If the EFSF wasn't enough to kick off the unwinding of the negative Europe trade then Mr T's comments did the rest. The path of XAU/EUR shows that it is a general Europe de-stressing trade more than anything else. We are debating how far the Euro goes and whether this is just a move for the market to go back to flat before we pause and reconsider the world or if this is the start of something much more positive.

Whilst we do, we will just leave you with our favourite clip to watch over and over again.