China is starting to make moves away from the U.S. Dollar and towards the Euro and the Yen. Concerns relating to the U.S. economy were cited as one of the reasons. China has the largest foreign exchange reserves amounting to $2.45 trillion.
To read a related Bloomberg article, please click here:
http://www.bloomberg.com/news/2010-08-15/china-favors-euros-over-dollars-as-bernanke-shifts-course-on-fed-stimulus.html
Jim Sutliff
Treasury notes continued their gain for a fourth straight month. Two year yields fell for a 9th straight week to the lowest rate ever recorded. Slow economic growth and the possibility of a moderate economic recovery have led investors to Treasury notes.
To read a related Bloomberg article, please click here:
http://www.bloomberg.com/news/2010-07-31/treasury-notes-climb-for-fourth-straight-month-as-economic-growth-slows.html
Jim Sutliff
To get a quick overview of the markets take a look at the Markets Brief on Forbes. It provides news and insights on domestic and global markets. The report also provides valuable information on earnings reports and views from analysts regarding economic events.
To visit the Forbes Markets Brief, please click here:
http://www.forbes.com/markets/marketsbrief/
Jim Sutliff
Venezuela has seized 11 rigs owned by the American drilling company of Helmerich & Payne. The drills have been shut for a year due to lack of payments from the Venezuelan state-run oil company PDVSA. This is an aggressive move on the part of the government and it may decrease the amount of foreign investment in [...]
The six month ban on deepwater drilling is coming under fire by oil companies. Oil executives are quick to point out that a ban could be a step back for energy security. Prices are also likely to increase if a ban is kept for an extended period of time. Currently, the ban is being challenged [...]
Medvedev is pushing for the Russian Ruble to be a reserve currency which would cut into the dominance of the U.S. Dollar. His wish is to make Moscow a global financial hub and to help lift an ailing Russian economy. The Russians saw their GDP shrink 7.9% last year and that marked the worst decline [...]
At least one analyst is suggesting to purchase gulf coast bonds when the pirces start to drop. The oil leak will cause the surronding economies to take a hit and the bonds may follow in line. One analyst believes that that is a good time to purchase the bonds and receive a solid return.
To read [...]
A downgrade of Spain by Fitch sent the markets lower before the holiday weekend. Concerns over the spread of the European debt crisis have continued and the prospects of lower global demand also contributed to market problems. The government of Spain has passed a number of austerity measures but that still did not prevent the downgrade [...]
The Pound gained in trading today after Conservative leader David Cameron was appointed the new Prime Minister. Gordon Brown’s resignation cleared the way for the first Conservative administration since 1997.
To read a related Bloomberg article, please click here;
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_8N8kLTYvzE&pos=2
James Sutliff
The European Union is preparing a $645 billion dollar fund to prevent the sovereign debt crisis from spreading. A Bloomberg article quoted a Sedish official as describing the markets as having a “wolfpack behavior”. The need for the EU to build confidence fast is recognized as the number one priority.
To read the Bloomberg article, please [...]
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