Housing Info Fuels Surge in US Equities
Equity markets and high yielding currencies are seeing major advances higher as improved housing data in the US and cited anticipation in German business confidence surveys helps fuel a low volume, pre-Christmas rally. Other pieces of supportive news came with the ECB’s release of the first tranche of funds in its 3 year loan programme and the successful bond auction in Spain. Yesterday’s financial policy meeting with the Bank of Japan was mostly uneventful, with no change in the states base rate and no new additions to its asset purchase plan.