Wholesale gold bullion prices fell to three week lows around $1410 an ounce Wednesday, as European stock markets ticked higher, reversing earlier losses following disappointing Eurozone growth data.
Seems like hardly a week goes by now, without at least one international think tank or commentator talking about lofty-looking Canadian realty prices and the over-exposure of Canadian banks and taxpayers via the CMHC underwriting of high leverage loans.
Over the past two years the spot price of natural gas fell from nearly $5 per million British thermal units (MMBtu) in June 2011 to less than $2 per MMBtu in April 2012, before beginning a steady climb back to the current level of about $4 per MMBtu.
Japanese government bonds experienced a spectacular sell-off in the past few days, with the 10-year JGB yield rising by a half of its value.
The Dow was higher by 0.82% and the S&P 500 closed at a new high rising 1.01%. Hedge fund titan David Tepper set the tone for the market this morning on an interview on CNBC prior to the open. He feels the U.S. economy is in a “goldilocks” phase when it comes to growth and the stimulus provided by the Federal Reserve.
The Wise Sages of Ancient days used to say, “The fate of a Liar, is that nobody believes him, - even when he’s speaking the truth!” Such is the predicament of Japan’s propaganda artists, including the Prime Minister, the Finance minister, and central bank chief, who are all trying to cover-up their boldest scheme yet, to crush the value of the Japanese yen, against the currencies of its major trading partners.
So, apparently, according to Jon Hilsenrath, "QE to Infinity" is actually "finite" after all. With Ben Bernanke set to "exit stage left" in 2014 the question of who replaces him at the helm of the massive USS "Federal Reserve" will be important as to the future of the current course of monetary policy.