Wall Street is rightly circumspect. Attribution to energy may not be just. It has more to do with the reluctance of ECB to heed to Draghi's pleas ; with the drop in Chinese growth rate; and with the weaknesses of the Japanese. It kills the decoupling theory. Its a convergent world. USA cannot do things by itself when recessionary winds are so strong. It calls for coordinated action both by regulators and political leadership. There appears to be an abdication of responsibility by the Europeans. And then came the producer prices data which is not quite encouraging.
Over an unsure weekend, none may like to hold a position of assets. Short sellers seem wiser.
Over an unsure weekend, none may like to hold a position of assets. Short sellers seem wiser.
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