Markets Quietly Range Bound. Energy Being Stored For Bigger Move
ByPosted To: MBS Commentary
Good Morning. Let's review the headlines and market levels. Reuters: Japanese Prime Minister Yukio Hatoyama and his powerful ruling party No.2 quit on Wednesday to try to boost the party's fortunes in an election next month, less than a year after sweeping to power with promises of change. The political turmoil could delay efforts to thrash out plans set to be announced this month to cut the country's public debt, which stands at about 200 percent of GDP, and a strategy to engineer economic growth in an ageing society. The US$ rose to a two week high vs. the Yen on the news…. Reuters: Spain's jobless rate — the highest in the euro zone — fell at its fastest pace for five years in May, data showed on Wednesday, offering a glimmer of hope for the euro zone's most battered…(read more)