China’s Premier Wen Jiabao warned the momentum for a recovery in economic growth isn’t yet in place and that “difficulties” may persist for a while, the official Xinhua News Agency reported.
Even so, the current pace of economic expansion is within the targeted range and government measures to stabilize growth are “bearing fruit,” the premier said during an inspection tour in southwest Sichuan province, according to a Chinese- language report from [...]
The Treasury sold €1.6B of 3-month paper at a yield of 2.36%, up from 0.85% in May, while the bid-to-cover ratio fell to 2.6 from 4. Spain also auctioned €1.48B of 6-month bills with a yield of 3.24% vs. 1.74% and a bid-to-cover ratio of 2.8 vs. 4.3.
Spain saw short-term borrowing costs jump sharply Tuesday as it auctioned 3.08 billion euros ($3.85 billion) of three- and six-month bills. The [...]
by Phoenix Capital Research
Talk of QE and rumors of coming Central Bank Intervention pushed stocks and Gold higher on Monday. It’s odd to hear these rumors when every major Central Bank has in fact been clearly stating NO new stimulus is coming any time soon.
Indeed, as the Fed has proved now for eight consecutive FOMC meetings, it is not going to announce more QE unless another systemic Crisis erupts. Instead [...]