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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (80951)	10/6/2011 9:16:28 PM
From: 2MAR$	Read Replies (1) \| Respond to of 219172

Yes , they've been pulling out the all the stops and have in place the funding it seems to test staving off any meltdown and putting things out till Nov . So they're get some relief rally into earnings season just starting out and were getting this DCB here predictably to 1160 and perhaps higher , which still will hit a top in the channel for another pullback ...but there is at least the holiday season ahead but that may disappoint . The British going QE3 today planning to inject $75bil pounds shows just how tentative things are which is the equivilent of our QE2 , about best they can hope for is to bump along at these low levels for years with even more downside risk with the Euro in trouble . Doesn't look like the Euro ever really recovered .... The released data out of England today show a dismal picture U.K. economic growth slowed more than initially estimated in the second quarter, adding to pressure on Bank of England policy makers to provide more stimulus for the economy. Gross domestic product rose 0.1 percent from the first quarter, lower than the 0.2 percent previously published, the Office for National Statistics said today in London. Consumer spending plunged 0.8 percent, the most since the first quarter of 2009. On the year, GDP rose 0.6 percent. A separate report showed services growth unexpectedly accelerated in September. The data comes as Bank of England policy makers meet to decide whether they’ll revive their bond-purchase program as the government’s fiscal squeeze and Europe’s debt crisis jeopardize growth prospects. Chancellor of the Exchequer George Osborne announced a plan to aid the economy this week, saying he’ll start a program of “credit easing” to expand company financing. The pound remained lower against the dollar after the data were published. It traded at $1.5461 as of 9:33 a.m. in London, from $1.5488 yesterday. Bonds declined, with the yield on the 10-year gilt rising 3 basis points to 2.28 percent. Recession Revision The ONS published revisions to economic data today. The recession in 2008 and 2009 is still estimated to have begun in the second quarter of 2008 but ended one quarter earlier than previously estimated. The peak-to-trough decline in GDP was 7.1 percent, more than the previously reported 6.4 percent, the ONS said, noting that the downturn was “shorter, but steeper and deeper.” Government spending rose 1.1 percent in the second quarter from the previous three months, when it increased 0.8 percent. Exports fell 1.3 percent after rising 1.5 percent in the first quarter, while imports fell 0.3 percent. Company investment jumped 1.7 percent, the most since the first quarter of 2010. Services In the output categories, services growth slowed to 0.2 percent in the second quarter from 0.7 percent in the previous three months, while manufacturing slowed to 0.2 percent from 1.1 percent. Overall production shrank 1.2 percent after a 0.1 percent contraction. Construction grew 1.1 percent after shrinking 2.7 percent. The GDP deflator was 2.4 percent. An index of services rose to 52.9 in September from 51.1 in August, Markit Economics and the Chartered Institute of Purchasing and Supply said. Economists had forecast a decline to 50.5 in September. Consumer spending fell for a fourth straight quarter in the three months through June. In addition to the government budget cuts, consumers are getting squeezed by inflation that’s more than double the central bank’s 2 percent target and is outpacing wage growth. Tesco Plc (TSCO), the biggest U.K. retailer, said today its U.K. stores had their worst sales performance in at least six years in the six months ended Aug. 27. The ONS said last week publication of economic accounts and balance of payments scheduled for today will be delayed to Oct. 25 as it undertakes the biggest revision to the national accounts since 1995. The statistics office revised 2010 GDP growth to 1.8 percent from 1.4 percent. It also revised 2008 and 2009 growth to minus 1.1 percent and minus 4.4 percent from minus 0.1 percent and minus 4.9 percent respectively. Euro Economy The euro-area economy also lost momentum in the second quarter, with growth in the 17-nation bloc slowing to 0.2 percent from 0.8 percent in the first three months of the year. The U.S. economy, the world’s largest, grew an annualized 1.3 percent in the second quarter. Speaking at the Conservative party conference on Oct. 3, Osborne proposed lending billions of public money to British companies that have been struggling to obtain credit from banks. The coalition government has refused to slow the pace of deficit reduction, and its Liberal Democrat partners are insisting Osborne find ways to stimulate growth. Nine of 30 economists surveyed by Bloomberg News say the central bank will increase its target for asset purchases tomorrow, and the rest say the bank will hold the program at 200 billion pounds. The bank will announce the decision at noon in London