2011年7月8日 星期五
Portugal Moody's credit rating lowered to junk
Portugal Moody's credit rating lowered to junk
Greece's complex global threat of debt
Support the end of the story ContentBack story ContentGold accessible link to start the second consecutive day of gains, amid worries that Europe's debt and a slowdown in China.
August gold closed up $ 16.50 at $ 1,529.20 an ounce. It has received $ 36.50, or more than 3% in two days, investors buy the metal seen as a safe haven in the increasing risk in the global economy.
Gold smelter in Kinross' Fort Knox operations in Alaska. The price of gold has risen $ 46.50 U.S. in two days. (Kinross)
Canada exported $ 5.4 billion worth of gold in 2009.
"The market risks have continued to fall after Moody's cut the debt to junk Portugal, which we are concentrated in the rest of the (European) sovereign debt situation," CanadianForex Vice President John Curran said.
"Adding to the risk over the scene overnight interest rates in China are trying to engineer a soft landing of the officials of the rapid economy."
"That store the value of gold as a currency-based investments, that is there," said John Kurgan, senior trader at futures brokerage 林德沃尔多克.
"So, instead of dumping the euro and the people really sell it or even to buy dollars, the money is starting to come back into gold, gold is won."
S & P / TSX 1-year global gold index chart on Tuesday, Moody's cited concern that Portugal will not meet targets to reduce its budget deficit due to "serious challenges" it is facing spending cuts.
It said the country will likely need to follow the Greek second bailout plan.
Portugal spent $ 110 billion rescue of its European partners and the International Monetary Fund earlier this year in the nervous investors started charging a steep gains unsustainable loans.
Portugal penalties
The downgrade led to the bond market, to promote Portugal's high lending rates, the stock market lower on Wednesday.
Yield three-month Treasury bills auction in Portugal is 4.926 percent - from 4.863 percent on the same bill, not far from mid-June and the record of 4.967 percent on June 1st.
In Portugal, the 10-year yield bonds surged to 13 percent, while the Lisbon Stock Exchange fell by 3%, with the steepest decline in bank records.
Spain and Italy, respectively, into recession, adding new impetus to the European sovereign debt crisis.
Madrid's main stock index fell 1.2 percent, the rise in bond yields. Spain, a larger country, and now has successfully avoided major consequences from the mainland's financial difficulties.
In Italy, the stock lost 2.4% of the cost-cutting concerns may not be sufficient to reduce its high debt.
The idea that the crisis could engulf the larger economic growth is an imminent threat to the market. Spain and Italy will save you many times more than all the aid, the EU has been paid so far.
He said: "More and more risk is being caught in Italy further spread of the bond market vigilantes a rather sudden decision to adjust its pace," Alan Ruskin, said Deutsche Bank analyst.
China rate hike
At the same time, China raised key interest rates a third time this year as it tries to cool surging inflation. One-year benchmark interest rate loans will increase 0.25 percentage points to 6.56 percent after inflation hit a 34-month high of 5.5% in May.
Chinese cabinet's planning agency, said inflation in June, is expected to be announced next week, is likely to exceed the level in May as food prices jump attributed to the summer floods damage crops.
The yield on Portuguese 10-year bonds surged to 13 per cent, while the Lisbon stock exchange fell three per cent with banks recording the steepest drops.
Spain and Italy were dragged into the downturn, adding new momentum to Europe's sovereign debt crisis.
Madrid's main stock index fell 1.2 per cent and its bond yields rose. Spain, a much bigger country, until now has managed to dodge major fallout from the continent's fiscal woes.
In Italy, stocks lost 2.4 per cent on concerns that spending cuts might not be enough to bring down its high debt.
The idea that the crisis might grow to engulf larger economies is a looming threat for markets. Rescuing Spain and Italy would be many times more expensive than all the bailouts the EU has paid for so far.
"The increasing risk is Italy gets caught up further in the contagion, and the bond market vigilantes dictate a more abrupt pace for its adjustment," said Alan Ruskin, an analyst at Deutsche Bank.
China hikes rate
At the same time, China raised a key interest rate for a third time this year as it tries to cool surging inflation. The benchmark rate for one-year loans will be raised 0.25 percentage points to 6.56 per cent after inflation hit a 34-month high of 5.5 per cent in May.
The Chinese cabinet's planning agency said June inflation, due to be reported next week, is likely to exceed May's level due to a jump in food costs blamed on summer floods that damaged crops
Greece's complex global threat of debt
Support the end of the story ContentBack story ContentGold accessible link to start the second consecutive day of gains, amid worries that Europe's debt and a slowdown in China.
August gold closed up $ 16.50 at $ 1,529.20 an ounce. It has received $ 36.50, or more than 3% in two days, investors buy the metal seen as a safe haven in the increasing risk in the global economy.
Gold smelter in Kinross' Fort Knox operations in Alaska. The price of gold has risen $ 46.50 U.S. in two days. (Kinross)
Canada exported $ 5.4 billion worth of gold in 2009.
"The market risks have continued to fall after Moody's cut the debt to junk Portugal, which we are concentrated in the rest of the (European) sovereign debt situation," CanadianForex Vice President John Curran said.
"Adding to the risk over the scene overnight interest rates in China are trying to engineer a soft landing of the officials of the rapid economy."
"That store the value of gold as a currency-based investments, that is there," said John Kurgan, senior trader at futures brokerage 林德沃尔多克.
"So, instead of dumping the euro and the people really sell it or even to buy dollars, the money is starting to come back into gold, gold is won."
S & P / TSX 1-year global gold index chart on Tuesday, Moody's cited concern that Portugal will not meet targets to reduce its budget deficit due to "serious challenges" it is facing spending cuts.
It said the country will likely need to follow the Greek second bailout plan.
Portugal spent $ 110 billion rescue of its European partners and the International Monetary Fund earlier this year in the nervous investors started charging a steep gains unsustainable loans.
Portugal penalties
The downgrade led to the bond market, to promote Portugal's high lending rates, the stock market lower on Wednesday.
Yield three-month Treasury bills auction in Portugal is 4.926 percent - from 4.863 percent on the same bill, not far from mid-June and the record of 4.967 percent on June 1st.
In Portugal, the 10-year yield bonds surged to 13 percent, while the Lisbon Stock Exchange fell by 3%, with the steepest decline in bank records.
Spain and Italy, respectively, into recession, adding new impetus to the European sovereign debt crisis.
Madrid's main stock index fell 1.2 percent, the rise in bond yields. Spain, a larger country, and now has successfully avoided major consequences from the mainland's financial difficulties.
In Italy, the stock lost 2.4% of the cost-cutting concerns may not be sufficient to reduce its high debt.
The idea that the crisis could engulf the larger economic growth is an imminent threat to the market. Spain and Italy will save you many times more than all the aid, the EU has been paid so far.
He said: "More and more risk is being caught in Italy further spread of the bond market vigilantes a rather sudden decision to adjust its pace," Alan Ruskin, said Deutsche Bank analyst.
China rate hike
At the same time, China raised key interest rates a third time this year as it tries to cool surging inflation. One-year benchmark interest rate loans will increase 0.25 percentage points to 6.56 percent after inflation hit a 34-month high of 5.5% in May.
Chinese cabinet's planning agency, said inflation in June, is expected to be announced next week, is likely to exceed the level in May as food prices jump attributed to the summer floods damage crops.
The yield on Portuguese 10-year bonds surged to 13 per cent, while the Lisbon stock exchange fell three per cent with banks recording the steepest drops.
Spain and Italy were dragged into the downturn, adding new momentum to Europe's sovereign debt crisis.
Madrid's main stock index fell 1.2 per cent and its bond yields rose. Spain, a much bigger country, until now has managed to dodge major fallout from the continent's fiscal woes.
In Italy, stocks lost 2.4 per cent on concerns that spending cuts might not be enough to bring down its high debt.
The idea that the crisis might grow to engulf larger economies is a looming threat for markets. Rescuing Spain and Italy would be many times more expensive than all the bailouts the EU has paid for so far.
"The increasing risk is Italy gets caught up further in the contagion, and the bond market vigilantes dictate a more abrupt pace for its adjustment," said Alan Ruskin, an analyst at Deutsche Bank.
China hikes rate
At the same time, China raised a key interest rate for a third time this year as it tries to cool surging inflation. The benchmark rate for one-year loans will be raised 0.25 percentage points to 6.56 per cent after inflation hit a 34-month high of 5.5 per cent in May.
The Chinese cabinet's planning agency said June inflation, due to be reported next week, is likely to exceed May's level due to a jump in food costs blamed on summer floods that damaged crops
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