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New Funding Currency - USD
Despite underlying problems in a global economy in regards to growth in the second portion of the year, risk appetite continues to drive higher yielding assets. European problems continue to linger with this week’s negative notations. Merkel and Sarkozy meeting did not add anything new in regards to adding ammunition to European arsenal to combat potential problems in the future. In the matter of fact, the meeting went into an opposite spectrum as agreement that Eurobonds are not going to be instituted and EFSF program will not be extended generally holds a negative notation for the euro. In the United Kingdom ... (full story)