European Equities Hammered; German DAX Down 5%; US Futures Down 2%; Gold Hits 1900 Again

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Published : September 05th, 2011
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( 22 votes, 1.2/5 ) , 1 commentary
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Category : Opinions and Analysis

 

 

 

 

European Indices






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Italy 10-Year Government Bond Yield






Last month the ECB stepped in to "support" Italian bonds. What is it going to do, buy all of them?

Metals






Much-to-do was made over the recent sharp plunge in gold. The pullback lasted precisely three days and now gold is flirting with all-time highs once again.

In bull markets, sharp pullbacks need to be bought, and in bear markets sharp rallies sold. The only trick is catching the turning point, and that is frequently not easy.

However, given the Eurozone crisis, and the likelihood that central banks and governments everywhere will attempt more fiscal and monetary stimulus, it is foolish to call a top in gold as many have done all year.

 

 

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Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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when you say or hear"italian bonds" do you not want to laugh?
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when you say or hear"italian bonds" do you not want to laugh? Read more
onesimus - 9/5/2011 at 8:56 PM GMT
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