Radio Rallies and Reversals
I thought I'd highlight some headlines from yesterday:
The US Treasury sold its last Citigroup shares for $10.5 billion, bring taxpayers profit on the $45 billion bailout to $6.85 billion, or so they say; and the Obama adminsitration and congressional Republicans have agreed to extend all Bush-era tax cuts for two years, plus continue unemployment benefits for two million people which would otherwise end in January. In Canada, the Bank of Canada kept the overnight policy rate at 1% citing further risk to the economic recovery and signs of a slow down.
On the news, overseas markets are largely in the green today; however, North American markets, which opened in positive territory, are currently in the red, thanks to a report in the China Securities Journal that the timing is right for the People's Bank of China to increase interest rates due to rising inflation.
GB
The US Treasury sold its last Citigroup shares for $10.5 billion, bring taxpayers profit on the $45 billion bailout to $6.85 billion, or so they say; and the Obama adminsitration and congressional Republicans have agreed to extend all Bush-era tax cuts for two years, plus continue unemployment benefits for two million people which would otherwise end in January. In Canada, the Bank of Canada kept the overnight policy rate at 1% citing further risk to the economic recovery and signs of a slow down.
On the news, overseas markets are largely in the green today; however, North American markets, which opened in positive territory, are currently in the red, thanks to a report in the China Securities Journal that the timing is right for the People's Bank of China to increase interest rates due to rising inflation.
GB
posted by Gordon Bell at
7:21 AM
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