On the heels of a significant rally in stocks, along with gains in gold, silver and oil, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN what factor will be moving key markets going forward. But first, here is what Leeb had to say about the situation in Europe: “Spanish bond yields hit record highs, at least since the euro was formed. Investors gave a big thumbs down to this way of bailing out banks or even individual countries. The market still wants a broad based bailout, and the major roadblock there remains Germany.”
Stephen Leeb continues:
“Until the Germans relent a little bit, I think we are going to be stuck with a lot of turbulence in gold and equity markets. That said, there is one piece of very interesting news today — The German bonds have actually slumped fairly significantly. German yields are up about eleven or twelve basis points.