January Rally Continues

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Markets are looking in the green this morning following yesterday’s late afternoon recovery. There is some speculation that weaker exports from China may lead them to loosen monetary policy to spur growth. Both Oil & Gold higher in Asia trade this morning.

The ongoing European crisis shows leaders of more coordinated response. European bourses up 0.7% today. Whether they can put aside national differences and resolve their debt crisis is anyone’s guess. However, slowing growth in Europe looks likely, as various nations begin to slip into recession there.

While we can debate economic decoupling between US and Europe, there can be little doubt that European trading has been impacting our markets in the States. We have seen early weakness evaporate once bourses across the pond close.

More shortly . . .

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