Thursday, 5 March 2009

China Offers a Short-Covering Bounce for Latin Debt, Says IDEAGlobal

In a short note called ''China Creates a Short-Covering Bounce,´´ New York-based market resreach company IDEAGlobal analysts say:

Latin American ''debt credits weren’t of much note in their overall returns yesterday, as local equity and currency markets in Latin America carried much more luster, nonetheless, the trading session produced an oversold bounce that countered recent expanded pessimism. U.S. equity indices demonstrated leadership in setting the directional tone for the global financial markets, as the major gauges all rose by over 2.3 percent. However, the core propellant for the recovery was exogenous to the inner workings of the U.S. markets, though non-surprising in its origin in China.´´

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