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Global Economic Confidence Improves For Third Month On Signs Worst Is Over

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http://www.bloomberg.com/apps/news?pid=206...id=adleVeaMdzWo

June 10 (Bloomberg) -- Confidence in the world economy rose for a third month as U.S. job losses slowed and global production improved, adding to signs the worst of the crisis is over, a Bloomberg survey of users on six continents showed.

The Bloomberg Professional Global Confidence Index climbed to 43.57 in June from 38.72 in May, reaching the highest level since the survey began in November 2007. A reading below 50 means pessimists still outnumber optimists.

Rising confidence may support the equity rally that added more than $11 trillion to the value of global stocks in the past three months as reports showed Chinese and Japanese producers increased output, and declines in Europe’s manufacturing and service industries eased.

Sell Tin Foil Hat futures, quick !!! ;)

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but the rate of increase is decreasing. Brown shoots!

Sure, we are not out of the woods yet - but market expectations and risk aversion have shifted massively since march, there's no denying that.

Just look at oil soaring above $70 ... perceptions rule this market, whether you like it or not.

Edited by VoteWithYourFeet

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Sure, we are not out of the woods yet - but market expectations and risk aversion have shifted massively since march, there's no denying that.

Just look at oil soaring above $70 ... perceptions rule this market, whether you like it or not.

Oil at around $95 triggers a recesion according to some economists. That was when we had "normality".

I would hedge that if the above figure is accurate in the current climate oil is getting near to the recession inducing point.

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I posted this on the Investment forum earlier...

Yeah it should be 43.57 global, 35.24 UK 36.69 US 38.79 JPY

Don't know what 46.26 could refer to.

Someone with Bloomberg could check what the latest figure is, could be that.

Edited by Tom Peters

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