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Daily Recap

Daily Recap

There were no major features to disrupt the general continuation of the latest trends in our major markets today.  Asian currencies rallied further vs. the US dollar, as did oil prices, and most Asian shares did the same.  Even more than the bigger Asian players, Southeast Asian stocks added to their bullish trends that have those markets up smartly for the year in some cases.  The Philippines PSEI index, perhaps representing Asia’s strongest region, added another 1.3%

 

In Europe, stocks ended higher, after a boost from the ECB.  Lower interest rates seem to be the prescription, and the central bank’s head expressed his willingness to go as far as using the “helicopter” strategy if necessary.  That refers back to the US Fed chief’s comment years ago about dropping money out of helicopters, if necessary, to get people spending and avoid a deflationary recession. 

Commodities continue to find succor in such sentiments, although short-term they show signs of ... Log in or subscribe to continue reading.


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