It didn't help that Thomas Hoenig, the hawkish president of the Kansas City Federal Reserve, repeated his dissenting view that interest rates should rise sooner than later to prevent inflation from rising. what is your dream
Before he spoke, however, stocks were also hit by a report that showed U.S. consumers have been busy paying down their debt, and are therefore not borrowing any more to finance purchases. something about skill
With unemployment still near 10% and consumers still retrenching, it's hard to see why inflation is an imminent threat or why interest rates need to rise.The U.S. government is still able to borrow at near historically-low rates and if anything, foreign investors seem to have reacted to the Greek debt crisis y embracing U.S. debt. open your eye
Also on Wednesday, bidders at the Treasury's auction of 10-year notes (NYSE: ^TNX - News) offered to buy 3.72 times the amount the love of my lifeof debt sold, the highest ever, according to RBS Securities.
But with gold at a high for the year and investors on high alert over Greek debt, some of the theories long-held by gold bugs are also re-gaining prominence.Gold, says Peter Boockvar, equity strategist at Miller Tabak, is benefiting from the general lack of faith in the world's currencies. Computer Technology
"In the commodity bull market in the 1970's, gold was seen as the ultimate inflation hedge," Boockvar wrote in a note on Wednesday. But "the gold bull market that started in 2000 was of a different kind, that of its perception of another currency of which it's been a form of exchange and store of value for 5000 years."True gold bugs, howver, would probably take it a step further, saying gold is benefiting directly from the foolishness of governments (who've been foolish ever since the gold standard was abandoned in Bretton Woods during World War II - and fully ended in 1971).The demise of the dollar, however, might have to wait until after the Greek crisis subsides. The dollar index (NYSE: DX-Y.NYB - News), which measures the U.S. unit against a benchmark of six major currencies, has rallied more than 6% since the start of the year.http://oyoderugby.xooit.fr
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