Daily Investment Interpretations
June 21, 2010
After opening up about 1% on news that China has agreed to devalue the yuan
against the dollar, the markets closed down a bit today: Stocks change mind, end lower. The NASDAQ Composite
to close at 2,389.09, the Dow gave back 8.23
to close at 10,442.41,
and the S&P 500 dropped
to end at 1,113.20.
Oil ended at $77.54 a barrel, while Gold ended the day
at $1,233. The VIX
Here come the cuts This article discusses the public funding cuts and new taxes about to be levied in the UK. This looks like 1929 all over again... or at least 1937... and it looks to me like a double-dip recession followed by a long, slow recovery, at best, and Depression 2.0 at worst. If the Eurozone raises interest rates and cuts spending, slowing their economies, we know what will follow. On the other hand, I supose it could be the case that they're walking a tightrope in that if investors lose faith in Eurozone sovereign debt offerings, their debt ratings will fall, interest rates will rise, and they'll be taken from that side. Either they raise interest rates or the markets will do it for them?
The following articles concern investing in Asia.
Getting ahead of the next wave .
No single theme will be enough
'Going local' has risks ... and maybe rewards
Now is the time to return to Asian equities (video)
Watch Keep your eye on the Chinese consumer (video)