Archive for July 13th, 2010

UK Ratings Back in the Spotlight

Markets continue to trade at their unhurried summer pace with no signs that we’ll encounter any directional momentum today. The highlight of yesterday’s trading day was the BoE MPC Posen addressing comments advanced by S&P regarding the UK’s cherished AAA sovereign rating. S&P asserted that UK debt levels were approaching levels incompatible with their AAA rating. Posen later addressed…

Asian stocks fall over Chinese regulation

G10 Advancers and Decliners vs USD
JPY 0.04
EUR -0.03
GBP -0.04
CHF -0.05
Asian stocks fell as Chinese reiterations to maintain lending curbs overshadowed better-than- estimated profit at Alcoa and brokerage recommendations on US technology shares. The Ministry of Housing and Urban-Rural Development reiterated that it will maintain curbs on speculative purchases and increase market supply in response to media reports that said China may abandon its current property…