Yesterday markets clearly panic
Yesterday the markets clearly panicked. Recurrence of the January sales brought down the U.S. stock indices.
One of the discussed cause of the fall - the growth of unemployment in the U.S. - we do not seem convincing. The number of initial applications for unemployment benefits rose for the week from 472 to 480 thousand it”s not such a big difference, to bring down stock prices by about 3%. The range of statistical deviation of the indicator in the annual downtrend is now 400/487 Thousands As we see, the evidence is quite fit into this range and are not critical: for the past three weeks, this figure actually does not change and remains in the range 472-480 th
The main source of threat - the growing wave of fiscal problems in the EU countries and including the USA. Since the beginning of the month quotes cds on U.S. debt rose from 44.7 to 57.4 Clause and thus returned to the values crisis in December 2008 followed by Greece in the black list of potential bankruptcies hit Portugal and Spain. Yesterday there was a sharp rise of sovereign risk: quote cds (5Y) Greek debt rose from 396 to 428 p, Portugal - from 196 to 229 p., Spain - frombc2152 to 170.8 Clause Against this background, the European markets as shares collapsed by 2.6%.
Undoubtedly, today determinants of stock market behavior will be the European currency (there is hope for the technical support at current levels), as well as publication of data on U.S. employment (NFP report for January).
In the outsiders of the market were paper power companies: OGK-4 and IntreRAO “ Vegetables, not vymerzshie in January, will allow traders to get rich over the next few months … Banks revoke troubled borrowers offices, shopping centers and business, but refuse to zemuchastkov and unfinished projects …
The only thing that can fix the situation and return the players at least a short-term desire to buy - statistics on the U.S. labor market
Hope for the restoration of the labor market in the United States evaporated in an instant
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