- Shanghai Stock Exch remains under pressure, though PBoC tries to calm money market rates. Interbank lending rates dropped after PBoC provided liquidity (allegedly).
- Asian equity markets mixed, with Nikkei off 1%, but others closer to unched-positive on heels of US data yesterday.
- Australia...Kevin Rudd returns to power taking PM spot from Julia Gillard in Labor party leadership vote. She had ousted him in a party revolt in '10. General elections are in Sept where Labor is currently expected to lose (big!) to rival center-right Liberal Nationals. Rudd will face task of keeping his minority party gov't in office. Raises political uncertainty.
- India...the Rupee hits 60, a record low. Bk of India being watched for intervention...none seen yet.
- European stocks generally higher early on heels of US data yesterday.
- Treasuries firm overnight...US 10s @ 2.577%.
- Gold continues to get hit hard!
- Italy may suffer billions in losses on restructured derivative contracts dating back to their accession into the Euro in the late '90s!
- US Q1 GDP revision...cut to 1.8% from 2.4%. Consumer spending rose less than orig estimate. Personal consumption only up 2.6% vs orig 2.4% est.)
Please continue to visit Soos Global Market Musings for updates.
(Sign up to "Follow by Email"! And share with others!)
(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
No comments:
Post a Comment