all over the country the latest price quotes
As of 20:52 last night, the three major U.S. stock index futures fell across the board. Dow futures were down 2.8 percent, the Nasdaq and S & P futures were down 2.6 percent and 2.95 percent.
"Daily Economic News" reporter noted that, as of 20:21 last night, the three major indexes in Europe slump. Among them, the German DAX fell 4.4 percent, France CAC40 and the UK FTSE 100 down 5% and 4.5% respectively. Asia-Pacific stock market no one received the red. India fell 4%, Japanese and Korean stock market fell by 2% and 2.9% respectively. On the other hand, the dollar index shot up 0.8 percent to 78.53. Corresponding drastic devaluation against the U.S. dollar by the euro by 0.9% to 1.3446. Commodity markets, U.S. crude oil fell 3% or 6%, LME, U.S. corn and U.S. beans fell by 2.8% and 2.2% respectively. In addition, the international gold tumbled 2.3 percent to $ 1,739 / oz.
data show that $ 400 billion purchase program will be 6 to 8 year bond allocation of 32%, 32% of 8-10 years, 20 to 29 percent of the 30-year, 10 to 20 years of only 4%.
long-term bond purchases large
In fact, Bernanke implied huge downside risk, it is the most global enterprises nightmare. Global mouse giant Logitech (logitech), for example, two times in two months to cut profit forecasts, leading to yesterday's share price plunged 13 percent. The world's second-largest miner Rio Tinto due to China's PMI fell and hit a 2-year maximum single-day decline of 9%. Has been optimistic about LVMH and Burberry and other luxury goods stocks, led lower by the plate. "To resolve the debt problems in Europe, it is necessary to see the global economic growth," Swiss the Fund BanqueBonhote & Cie, chief investment officer Jean-PaulJeckelmann, said, "any news on the downside risk of the economy will shake the confidence of the market. Tremendous downside risks to the term, compared to the Federal Reserve said earlier that the economic slowdown, the market will be even more devastating.
no doubt by selling short-term debt to buy long-term debt can depress long-term interest rates, thereby stimulating the soft mortgage market. But it also could lead to another adverse results, enables banks to bear the yield curve flattening in order to depress the rate of net interest income, in addition to potential pension fund against those who wish to purchase long-term bonds. Goldman Sachs would look at: the Fed has not yet changed the excess reserve ratio by 25 basis points, but to reverse the operation is more radical. Mainly due to the long-term bonds large purchases, while the affected 10-year treasury bonds amounting to over 400 billion U.S. dollars, higher than market expectations.
According to the "Daily Economic News" reporter observed, Another attractive feature is that in describing the economic outlook, the Fed little insight great (Significant) downside risk ", which previously only said the economy The situation has deteriorated. In addition, the Fed added, will the current level of interest rates maintained until mid 2013.
today nationwide local businesses offer summary
you can accept a only U.S. dollars in a rising market? The fact is, you may have to accept. On Thursday, the Fed announced as scheduled to reverse the operation - to extend the period of $ 400,000,000,000 Treasury, global stock markets and commodity markets encountered in the avalanche in the dollar revenge.
(This article Source: Daily News: Yang Zhan)
"Significant" devastating
Recommended Reading:
here do not have any insider information, is deeply stimulated the global stock markets. 2:23, the market continued to doubt in the end how to reverse the operation, and even speculation that Bernanke to say why a huge downside risk. From that moment, the U.S. dollar, such as Julius Caesar, like Burnout, which conquered the global stock markets and risk currency.
According to the Fed statement, the bank intends to June 2012 holdings of $ 400 billion of long-term bonds to hold down long-term interest rates and stimulate investment. Specific measures, ordered the New York Federal Reserve through open market transactions department, to buy 400 billion U.S. dollars each, the remaining period from 6 to 30-year U.SWorld Steel Pipe . Treasury bonds and sell such as the nominal value of the remaining period at the same time the national debt in less than three years or three years.
steel futures weekly / monthly analysis report
,
Thursday 2:15 to 2 O'clock 22 points, the Dow Jones industrial average was up from 11,388 points to 11,391 points, but within the next one and a half hours World Steel Pipe News , the Dow nearly 300 points but Kuangpao. The reason is that the printer paper jam led to the statement after the meeting is delayed until 2:23.
statement did not allow institutions to the accident, the Federal Reserve is scheduled to take to reverse the operation. Somewhat disappointed, Bernanke does not cut the excess reserve ratio. But the action is more like a juggle in the yield curve, rather than considering how to stimulate the economy.