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From Zero Hedge: Something amusing happened in today’s global capital markets: while European bond markets, especially in the periphery, are sliding following the Spanish downgrade and the Italian bond auction, one market has soared: That of Greece, which is up nearly double digits (not all that meaningful when you are at 20+ year lows), and whose bankrupt and deposit-free banks are up 20%. Which in turn is pushing U.S. futures higher, despite [...] Something amusing happened in today’s global capital markets: while European bond markets, especially in the periphery, are sliding following the Spanish downgrade and the Italian bond auction, one market has soared: that of Greece, which is up nearly double digits (not all that meaningful when you are at 20+ year lows), and whose bankrupt and deposit-free banks are up 20%. Which in turn is pushing US futures higher despit the Spanish [...] European bond markets appear poised on the edge of the latest precipice as economic data this morning has confirmed once again that all the ECB’s $1.3 trillion liquidity injection did was mask the underlying solvency issues for less than 4 months. Net result: more liquidity injections imminent (and with $2.5 trillion in asset sales and deleveraging still pending, we should probably bold and underlingmore). Yet what some are forgetting is [...] By Jordan Roy-Byrne Published: Today In bull markets, corrections and consolidations are needed to periodically cleanse the market of extreme optimism and an overbought condition. After a market has strong run it inevitably reaches a point of resistance. This is where there are more buyers than sellers. A market can correct in two ways. Either it declines and retraces much of the preceding gains relatively quickly or a market will consolidate near its [...] The gold price took a hit yesterday, falling close to $1,700 before once again rebounding to $1,732 per troy ounce. Despite a Large Increase In Central Bank Demand And Investment Demand, both in Europe and in Asia, turbulence in precious metals does not come unexpectedly. MF Global’s bankruptcy has the potential to affect a large number of positions in commodities markets, once morehighlighting The Important Difference Between Paper Gold And Physical [...] |
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