Morning Note, Copper, China

As mentioned yesterday, I believe the CRB index must hold the 200 level (and I believe it will) in order to give the rest of the market a fighting chance to recover.

Maybe it was comments from a Chinese official today that said their economy will grow 8% this year but commodities are bouncing with copper in particular at a one month high. We have to highly doubt an 8% figure but maybe it implies that China will do and spend everything possible in order to get to that 8% level.

The RB of Australia unexpectedly kept rates unch at 3.25% as they believe the current level in conjunction with “substantial fiscal initiatives… will provide significant support to domestic demand over the period ahead.”

What does Bernanke think about having the same monetary policy as Japan and sees what other central bankers are doing on the other hand? With our govt’s response in all areas to our crisis, I was hoping history would have taught more.

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