Today could be relatively quiet as the
world financial markets are in a holding pattern ahead of key central
bank get-togethers this week. The U.S. Federal reserve will begin a
two-day meeting on Tuesday to discuss the potential need for
further economic stimulus amid mixed economic data in recent weeks.
European Central Bank officials will begin their meeting on Thursday to
discuss “whatever it takes” to stabilize the region’s economy. Spanish
and Italian bonds eased off record highs of last
week after ECB president Mario Draghi’s pep-talk. Investors are
predicting central bank intervention will be deployed to bring down
sky-high borrowing costs that have pushed some of the region’s economies
to the brink of collapse. The positive sentiment across
the pond helped U.S. DJIA close above 13,000, on Friday, for the first
time since May. The precious metals complex is mixed this morning but remains near Friday’s closing levels. Have a great day!
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