factory output contracted in May for the second time in three months, the latest in a series of weak economic reports, raised expectations of a fresh round of stimulus measures. ![]() Federal Reserve’s Open Market Committee (FOMC) which begins on Tuesday.ĭata released on Friday showing U.S. The market’s main attention is firmly on the outcome of the two-day meeting of the U.S. Spain’s key 10-year government bond yields shot up 22 basis points to 7.14 percent, the highest level in the euro era and above the rate at which Greece, Ireland and Portugal were forced to seek international bailouts. ![]() The weakening growth outlook and its impact on debt-laden nations struggling to implement tough government austerity measures turned the spotlight immediately to Spain and Italy. “Whether or not the Greek election result succeeds in averting an immediate crisis for the euro, the fundamental problem of lack of growth in Europe remains,” said Peter Sullivan, Head of European Equity Strategy for HSBC. Greek voters gave a majority to parties supporting the country’s economic bailout, easing worries about a break up in the euro zone and initially boosting risk assets, but the huge problems the currency bloc still faces quickly wiped out the gains. stock index futures also pointed to a softer open with the worsening performance of the giant economy putting the focus on the upcoming Federal Reserve policy meeting and the chances of fresh action to stimulate flagging growth. A trader looks at data sheets at the Madrid stock exchange June 18, 2012.
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