Jul 16, 2012

Market Musings - EUR, China


Using the time-honored headline test, this may mean that the Euro's woes are coming to an end. Technically the chart appears to be stabilizing as well. In addition, the market's focus is shifting to the inconsistencies in China's economic statistics, leading some to believe that the whole data set is actually the product of the propaganda department and not the National Statistics Bureau. Efficiency must have really improved enormously if the zero growth in electricity consumption is indeed correct, given that GDP growth was +7.6% annualized.