Rosenberg Daily Soundbites

• The big moves today have been the huge rallies in the Eurozone peripheral bond markets as the EU pulled the proverbial rabbit out of the hat; equities are up across the planet and, in most cases, significantly and the major U.S. averages are about to test key technical resistance levels; both the German Ifo index slipping to a nine-month low in July and French business sentiment also dropped for the third time in the past four months
• Data still sub-par: The coincident-to-lagging ratio leads the leader and it fell 0.1% MoM in June; the Philly Fed index rose to 3.2 in July after the -7.7 print in June