110708: The US election of 2008 has come and gone. As for the market’s reaction, there has been little change in the underlying trends which might suggest the event itself was unimportant. The US dollar continues to be favored over European and ‘commodity’ currencies. As a result, many of the downtrends we saw over the past weeks shall continue for the time being. Of particular note this week, Eurodollars (short term interest rates that are not guaranteed by the US Federal Government) have finally broken higher in price (lower in yield) suggesting the ‘credit crunch’ is abating.
That's all for this issue of the WCTS Spotlight,
Brian Beamish FCSI
the_rational_investor@yahoo.com
http://www.the-rational-investor.com/
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