China’s Logical Reaction to the Global Currency War
by Dan Denning, Daily Reckoning.com.au:
What is it with Australian institutions right now? First, the cricket team gets humbled in India by an innings and 135 runs. Next, while the Dow Jones celebrates a new all-time high, the All Ordinaries lingers nearly 25% below its October 2007 high of 6760. What will it take for Australia to catch up?
In cricket, the answer is elusive. Australia became the first Test team to declare in the first innings and lose by an innings. That’s a statistical and historical novelty. But in the share market, it really comes down to just two sectors: the banks and the miners.
We’ll leave the banks aside because, frankly, their recent death-defying run only makes sense when you realise they are the objects of global yield hunters.
Read More @ DailyReckoning.com.
2013-03-07 14:54:15
Source: http:///2013/03/chinas-logical-reaction-to-the-global-currency-war/
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