Julian Jessop News
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Gold traders are the most bearish in three years after investors sold a record amount of metal held in exchange-traded products and prices tumbled in a bear market.
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Gold traders are divided on whether bullion will extend declines after the biggest plunge in three decades generated buying from investors and jewelers.
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The slump in gold may hand activist central bankers more reasons to pursue the easy monetary policy that helped drive up the metal’s price in the first place.
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Copper analysts are the most bearish in 12 weeks as the metal extends its worst start to a year in more than a decade on mounting concern that a supply glut will build as economies weaken.
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Confidence among managers of small Japanese businesses is close to the highest since 2007 even as stocks tumble, highlighting a “disconnect” that supports the nation’s economic recovery, according to Capital Economics Ltd.
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Harvard University Professor Martin Feldstein, who predicted in 1998 that the euro would prove an “economic liability,” said the single currency will survive for now, even as he bets Greece quits within a year.
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Dexia SA may be left with the lender’s worst assets under plans that would allow the French and Belgian governments to avoid injecting more capital into the bank, two people with knowledge of the talks said.
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Japanese stocks fell as the yen strengthened after the Bank of Japan doubled its inflation target while waiting until next year to start open-ended asset purchases like the ones already adopted by the Federal Reserve.
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Neel Kashkari, who was on the policy frontlines when Lehman Brothers Holdings Inc. crumpled in 2008, warns European governments against pushing Greece too far as they impose conditions for aid.
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Japan’s move to weaken the yen for the third time this year must be followed up with additional measures to help industries reeling from the strong currency, companies including Toshiba Corp. and Nippon Yusen K.K. said.
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