DJIA chart reading : upside biased.
FTSE chart reading : little upside biased.
DAX chart reading : side way range bound.
Hang Seng chart reading : side way range bound.
The U.S. will reach its $14.29 trillion legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said today, and he warned of “severe hardship” for Americans if lawmakers fail to act.
Bernanke Says Fed Will Act If Inflation More Than ‘Transitory’ (Source: Bloomberg)
Federal Reserve Chairman Ben S. Bernanke said he expects an increase in commodity prices to create a “transitory” boost in U.S. inflation and that the central bank would act if he’s proven incorrect.
Treasuries Fall as Bernanke Says Inflation Expectations Must Be Watched (Source: Bloomberg)
Treasuries declined after Federal Reserve Chairman Ben S. Bernanke said inflation expectations need to be watched “extremely closely.”
Fed Answering Brazil-China-Germany Axis Over QE2 With U.S. Growth Restored (Source: Bloomberg)
Federal Reserve Chairman Ben S. Bernanke is proving critics wrong as his stimulus program’s weight on the dollar boosts U.S. growth without slowing a global expansion or diminishing demand for America’s financial assets.
Fed Exit Means No Pain for Obama as Foreigners Buy 60% of Notes at Auction (Source: Bloomberg)
Treasuries are signaling that the $9 trillion market will weather the end of the Federal Reserve’s quantitative easing program in June without suffering a selloff that drives long-term borrowing cost higher.
Lockhart Says U.S. Growth Will Withstand Spending Cuts, Consumer Caution (Source: Bloomberg)
Federal Reserve Bank of Atlanta President Dennis Lockhart said the U.S. recovery from the deepest recession since the 1930s will probably persist, while buffeted by government spending cuts and reductions in consumer debt.
Spain's Deficit Fight Risks Setback as Zapatero Bows Out of 2012 Election (Source: Bloomberg)
Spain’s efforts to reduce its budget deficit and rebuild investor confidence may suffer a setback as Prime Minister Jose Luis Rodriguez Zapatero bows out of next year’s election.
ECB President Jean-Claude Trichet Seen Burying Peripheral Economies With Rate Rise to Stem Inflation (Source: Bloomberg)
Jean-Claude Trichet ’s shot against inflation may end up inflicting collateral damage on Europe’s most cash-strapped economies.
Sovereign Default-Swap Trades Double on China Slowdown: Australia Credit (Source: Bloomberg)
Trading in credit-default swaps on Australian sovereign debt doubled in the past year as the nation becomes increasingly dependent on its biggest export market China, which is seeking to slow growth to stem inflation.
Australia Flood, Cyclone Disasters to Cost Economy $9.4 Billion, Swan Says (Source: Bloomberg)
Australian Treasurer Wayne Swan said recent natural disasters will likely cost the economy around A$9 billion ($9.4 billion) after the government raised estimates on losses to the coal industry by 20 percent.
Japan Bond Futures Drop on Concern Demand to Fall at 10-Year Debt Auction (Source: Bloomberg)
Japan’s bond futures sank to a three-week low on speculation demand will decrease at today’s auction of 10-year securities, the first this fiscal year.
Japanese Stocks Fall as Tokyo Electric Dumps Radioactive Water Into Sea (Source: Bloomberg)
Japanese stocks fell, led by fishing companies, after Tokyo Electric Power Co. began dumping radioactive water from its crippled Fukushima Dai-Ichi nuclear station into the sea.
Yen Falls Before BOJ Meeting; Dollar Gains on Bernanke (Source: Bloomberg)
The yen fell against all its major counterparts before reports that economists said will show Europe’s retail sales increased and U.S. services expanded, reducing demand for Japan’s currency as a refuge.
World stocks up on growth outlook, euro on ECB
LONDON, April 4 (Reuters) - Solid signs of growth in the world economy supported global equities while expectations of higher euro zone interest rates took the euro to an 11-month high against Japan's yen. "As the economy turns the corner and gets back on its feet, central bankers are beginning to see inflation as a greater threat than lack of growth," said Jonathan Sudaria, dealer at Capital Spreads.
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