Monetary Collusion Masking A Vulnerable Aussie Dollar
Jack Crooks: This week global central banks announced a coordinated effort to inject liquidity into credit markets. From Reuters : Ă˘â‚¬Ĺ“The central banks of the United States, euro zone, Japan, Canada, Britain and Switzerland announced on Wednesday coordinated global action to provide liquidity to the financial system, lowering the price on existing dollar swaps.Ă˘â‚¬Âť As frequently as these monetary powers must work together in world-saving plans, this is only the third instance of this particular type of announced collusion. The first was in December 2007.
ETF Fund Flows: SPY Bleeds $5.1 Billion
Investors yanked $5.1 billion, or 6 percent of assets, from the SPDR S&P 500 ETF (NYSEArca: SPY) on Monday, as concerns about eurozone countries being able to honor their debt obligations again put financial markets on tenterhooks and sent stocks lower.