The pendulum of the markets ends the year with a positive swing and the Asian regional index registers a modest progress. But this does not mean that the Asian stock markets lost about 18% over the year, against a substantial balance in the prices in America (S&P500 from the end of 2010 to the end of 2011).
Globally, world stock markets lost $6.300 trillion in capitalization in the year that ended. Currencies are in fibrillation, with the euro remaining low, around 1,29 and the yuan registering yet another record appreciation against the dollar, at 6.305. However, the positive notes outweigh the negative ones. The Italian case, which is at the center of tensions in the world, has made some progress, with yields on bonds declining on shorter maturities, and Prime Minister Mario Monti did well to finally go on the offensive by declaring that the Italian fundamentals justify the yields that the market assigns to Treasury securities.
Among the raw materials, copper rises together with oil which is confirmed at close to 100 dollars a barrel. Yesterday's news on the US economy was positive and what some scornfully call the 'Santa Claus rally' on Wall Street is not based on sand.
http://www.bloomberg.com/news/2011-12-30/asian-stocks-copper-gain-on-u-s-data.html
