Global stock markets rally
Greater China Fund: The Trend Continues Lower (GCH)
Iberian stock markets look to have seen a ghost on Wednesday afternoon:
The Mexico Fund January Monthly Summary Report
buy Mexico Fund (MXF);
This shouldn’t be surprising given that the credit market is not longer pricing Armageddon. One has to wonder JPM, GS, etc are really being priced for the fall in revenue that is likely to come in 2010.
A permanent Build America Bonds program, as proposed by the President Obama, is likely to increase interest in these taxable bonds from states and localities among mutual-fund investors.
Fears of default by companies in the eurozone periphery also rose sharply, indicating that the contagion was spreading to the corporate sector.
There’s been a lot of talk over the past few hours about sovereign debt jitters in Europe spreading from Greece to Portugal.