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3 Numbers: German consumer angst, UK growth, US home surge
The markets have become a little more relaxed during the ending week – stock indices and bond yields have risen, and EURUSD has fallen back to the previous week’s lows. The slightly better-than-expected economic data and dovish promises of possible corporate bond purchases from the European Central Bank have improved the mood. It remains to be seen whether the more positive sentiment is transitory – the ECB has a tendency to float “test balloons”, or rumours of different kinds of policy steps, without any serious intention to push ahead with implementing them. The idea is partly to wield the cheapeast tools ... (full story)