Spreadex Market Update
Euro-area finance ministers are set to meet today
Federal Reserve chairman Ben Bernanke will speak this week with many monitoring his speech for any signs of slowing stimulus. With a good payroll figure last Friday, this could contribute to the strong case to start tapering purchases. Many still feel the Fed will slow tapering from the September meeting.
Asian stocks traded in negative territory overnight; dropping the most in two weeks amid concern a credit squeeze in China will curb growth. Credit data this week will give investors clues to how much the cash squeeze is affecting the world’s second biggest economy. Worries of a credit squeeze sent interbank borrowing costs soaring to records last month.
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