from Google.com/finance
Dow Jones 11,246.43 +140.58 (1.27%) S&P 500 1,188.69 +15.82 (1.35%) Nasdaq 2,572.55 +40.40 (1.60%)Comments »
China Now Willing to Buy Sovereign Debt
“China is willing to buy bonds from nations involved in the sovereign debt crisis, National Development and Reform Commission Vice Chairman Zhang Xiaoqiang said in an interview with the media in Dalian yesterday.
China is willing to offer assistance, Zhang said without elaborating, adding that Premier Wen Jiabao made similar remarks earlier, according to a transcript distributed on the planning agency’s website yesterday evening. Caijing magazine attended the briefing and published an article earlier.
Wen, speaking at the World Economic Forum in Dalian yesterday, signaled that that developed nations should cut deficits and open markets rather than rely on China to bail out the world economy. China can best contribute to the global economic recovery by ensuring steady growth at home, he said.
“Countries must first put their own houses in order,” Wen said. “Developed countries must take responsible fiscal and monetary policies. What is most important now is to prevent the further spread of the sovereign debt crisis in Europe.”
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Recap on the Euro Crisis
Despite all the talk this morning there are some real concerns. We have a conference call coming up later this morning between France, Germany, and Greece. Hopefully we get some statements. Otherwise here we stand.
Comments »A Look at Supply Issues for Metals and Chemicals
Business Inventories: Prior 0.4%, Mkt Expects 0.5%, Actual 0.4%
China Rumor Dismissed; Wen Jiabao: ” indebted economies must “put their own houses in order,”
ECB to Help Liquidity Issues With Dollar Lending in the Euro Zone
Retail Sales: Prior 0.5%, Mkt Expects 0.2%, Actual 0.3%…PPI: Prior 0.2%, Mkt Expects 0.0%, Actual 0.1%
The DAX is Down 28% Over the Past 3 Months
Clearly the market is saying Germany has the most to lose, punishing the DAX by a stunning 28% over the past 3 months. The French CAC is enduring similar losses, down 25%, while the US DOW 30 is down just 7.5%.
Comments »Flash: U.S. Futures Lose Ground as Asian Markets Slump
Price Correlation Soars to 97.2%; Highest Point Since Lehman Debacle
Interesting correlation as most banks and institutions tout diversification. Gold and silver have been the best diversification lately.
Comments »Meet the Money Manager Up 45% This Year
Median U.S. Income Drops 2.3% as “Poverty Level” Rises
Bearish Euro Options Get Accumulated
BofA Speeds Up the Foreclosure Process Again
John Chambers of Cisco Remains Upbeat About Customer Spend Despite a Few Bad Qs
Tom Perkins Sees Harsh Results For Venture Capital Going Forward
A sour investment for venture capital may hurt the balance sheet more going forward since there are too many dollars chasing to little companies.
Perhaps overseas will save the day. Think off shore.
Comments »Flash: Europe Shares Stage Rally to Close Off 2-Year Lows
Gold Continues to Settle Down While the Dollar Strengthens
ECB Deposit Facility Usage Soars; Described as Parabolic
Liquidity is scarce and solvency is questionable…LIBOR continues to move higher.
Full article/analysis of Europes debt woes
Also dollar reserves are up across Europe
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