Stock Slump(CNBC)Stocks remained mired in negative territory in afternoon trading after data this morning showed an unexpected drop in monthly new home sales, reviving investors’ worries over the housing market and its economic implications.
Strong Sterling (or weak dollar?)(Telegraph)Traders are betting the pound will punch through $2 over the next month, reaching the highest level in a quarter of a century as the Bank of England raises rates further to choke off inflation.
Oil Price Jumps(FT)Oil broke through $64 a barrel on Monday, setting a fresh 2007 record, on heightened geopolitical tensions between Iran and the west as Tehran vowed to continue its atomic programme despite new UN sanctions.
Yen Carry Trade Mania?(Growth Stock Wire)The yen carry trade is now a buzz phrase with the talking heads. And it’s become the scapegoat for any hiccup in the market. Everyday headlines ask, Will the carry trade last? What will happen to global liquidity?It’s true that the Bank of Japan has supplied the world with greater liquidity, but not nearly on the level most analysts would like you to believe.
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