According to Bloomberg data, when the Fed last imposed a ceiling on the fed funds rate at 0.25% in December 2008, two-year government paper reached a record low yield of 0.6044%. Eighteen months ago the hope was that in two years time the economy would be past the worst of
Source:Double-Whammy from NY Conference Board Sinks Recovery Hopes
The dollar and yen surged on worries about the global economic recovery. The Conference Board Chinese leading economic index unexpectedly fell; Japanese unemployment rose; and US consumer confidence dropped for the first time in four months. The S&P 500 plunged 33.33 to 1041.24. Treasury two-year note yields fell to a
As global equity market tumbled on concern that euro zone banks’ fragility might stall economic recovery, risk-off trades dominate currency market. Euro zone banks have to repay an economic stimulus emergency loan amounting up to 442 billion euro to ECB on Thursday.
More risk aversion gripped the markets yesterday and safe haven currencies benefited once again, the CHF and the JPY were the main performers. EURUJPY made a new 8 year low and the EURCHF traded to fresh new lows at 1.3163. US equities closed below 3% and Gold traded back up
Source:Global Growth Put Into Question Spurring A Flight To Safety!
