It was Arts & Craft’s Day in China
as the county’s central bank pulled out the scissors and cut interest
rates for the first time in four years! The Peoples Bank of China
trimmed a quarter percent off the 1-year lending rate in an effort
to change the direction of its slowing economy that was reported to be
expanding but at a slower pace. The interest rate cut, down to 6.31%,
bolstered hopes that further stimulus measures could be on the horizon.
In Spain, an auction of 10-year bonds was in
high demand. €2.1bn worth of debt was auctioned with a yield of 6.044%
indicating that investors may be confident that Spain’s banking sector
can get out from under the shadows of its looming collapse. With the
help of a bailout from its Eurozone counterparts
that may be a possibility but with consensus estimates of a €100 bn
price tag there’s still some doubt. Global markets were upbeat
overnight and U.S. equities are poised to start the day on the upside.
The PGM complex is seeing some modest squaring of positions
as investors await Chairman Bernanke testimony before the Joint
Economic Committee at 10:00 am EST. Investors could get an indication of
whether more quantitative easing is in the works.
|
Metals
|
Last
|
%Change
|
Low
|
High
|
|
Au-Aug
|
1627
|
-0.44%
|
1613.6
|
1630.7
|
|
Pt-Jul
|
1467.1
|
-0.16%
|
1455.9
|
1471.2
|
|
Pd-Sep
|
631.8
|
-0.22%
|
624.15
|
632.80
|
|
Ag-Jul
|
29.600
|
0.38%
|
29.155
|
29.675
|
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
|
Au
|
1620.75
|
-
|
Rh
|
1260
|
|
Pt
|
1461
|
1466
|
Ru
|
115
|
|
Pd
|
625
|
629
|
Ir
|
1100
|
|
Ag
|
29.28
|
DJI
|
12414.79
|
286.84
|
|
Currencies
|
|
|
|
|
|
|
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
1.2614
|
0.012552
|
1.5588
|
|
EUR
|
0.7928
|
0
|
0.99505
|
1.2357
|
|
JPY
|
79.67
|
100.5
|
0
|
124.193
|
|
GBP
|
0.6415
|
0.80921
|
0.8052
|
0
|
|
|
|
|
|
|
|
Crude Brent
|
102.1
|
Comex Copper
|
341.9
|
|
|
Crude WTI
|
86.62
|
Nat Gas
|
2.397
|
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
|
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