These Are The Robbing Peter To Pay Paul Markets
Just when you think you have heard it all, you really haven’t. This morning, the latest rumor coming out of Europe is that the European Central Bank (ECB) will lend money to the International Monetary Fund so that they can purchase sovereign debt and buy Euro-bonds. You see, the ECB is not allowed to monetize the debt according to the current rules that are in place, therefore, by lending money to the IMF they can get around this rule. This is just another loophole in the system. Oh well, I suppose these are times that we are living in. In any case, the S&P 500 Index e-mini futures (ES Z1) are trading higher by 8.25 points to 1223.25 per contract. Just so you know, the U.S. Dollar Index is lower today and when the dollar declines the markets inflate and trade higher. There really is no need to follow the news out of Europe if you are following the U.S. Dollar Index.
Last night, the Asian markets ended lower across the board. The important Shanghai Index (China) finished lower by 1.88 percent. Therefore, if the U.S. markets show weakness today the Chinese ADR’s could come under some selling pressure. If the U.S. markets hold up today the Chinese ADR’s will likely be OK and hold steady.
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Post Written By: Gold And Oil Guy
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