The US markets opened with a dive this morning, then all at the same moment they recovered, along with gold and silver and most non-dollar currencies bar Swiss and Yen. It smelt of intervention. My mate in the City said it was panic.
The Japanese announced a programme of Yen intervention and QE today.
There might be a QE about to come out over here again. There must be a coordinated programme around the world to try to stop markets falling going on.
Faisal Islam says that there will be a big economics announcement to be made at midnight. Is it all part of the same ‘try to stop the crash’ story?
From the WSJ –
Investors are also apprehensive about the Federal Reserve’s annual meeting set for Friday and Saturday, after a report in The Wall Street Journal pointed to an ongoing discussion at the central bank over what to do next, if anything, about America’s weak recovery and low inflation.
“That’s got the market unnerved a bit,” said Quincy Krosby, chief market strategist at Prudential Financial. “You don’t want to hear that they’re unsure of how to pull us out of this.”
CNBC – Economy Caught in Depression, Not Recession
The Tap Blog is a collective of like-minded researchers and writers who’ve joined forces to distribute information and voice opinions avoided by the world’s media.