Fairly quiet day. Chile survived a huge earthquake, largely unscathed – thank God. Asian markets finished up, at least in part because of a weaker yen and stronger Chinese manufacturing data. Hostility between the two Koreas mostly elicited yawns, as we’ve all seen this movie too many times before to really care. European markets similarly aren’t putting much stock (get it?) in further Russian military threats, finishing up for the seventh straight day.
But Europe isn’t totally ignoring the Russian menace, just as it can’t quite shake worries over the continent’s stubbornly high unemployment rates and the specter of deflation that won’t go away. With its goal of 2% inflation and Germany’s strong economy running at less than 1% inflation (most other countries are on the verge of actual deflation) the ECB is wracking its collective brain trying to avoid the disaster that would come from mixing ... Log in or subscribe to continue reading.
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