Sunday, March 29, 2009
Stock markets – forwards and upwards
Investment Postcards from Cape Town: Words from the (investment) wise for the week that was (March 23 – 29, 2009)
Following Fed Chairman Ben Bernanke’s “money printing” announcement of last week, the action stayed on Capitol Hill with Treasury Secretary Timothy Geithner detailing his Public Private Investment Program (PPIP) as well the initial salvo on “new rules of the game” for the US’s broken system of financial regulation. In reaction to the Obama administration’s plan, global stock markets extended their gains and the US dollar reclaimed a stronger footing, but government bonds suffered from indigestion on issuance worries and the haven appeal of commodities waned. Read all about this and the implications for financial markets in the weekly “Words from the Wise” review.