The regional index of the Asian continent rose by almost 2%, following the good news on the residential sector in America (both permits and new constructions increased by almost 10%) and even in Europe (the German index of confidence, the IFO, has gone up).
And today there is anticipation for the ECB refinancing, which offers banks unlimited funds for three years: the record of 442 billion euros refinanced in a single auction in the past, when maturities were closer, could be broken. And of course, as mentioned yesterday, this massive supply of funds leaves open the possibility that banks will also buy sovereign bonds, given that the yields for a number of countries are very attractive and well above the cost of refinancing the ECB. The euro recovered, and so did the won, which had been suffering from geopolitical problems. Those who, a few months ago, predicted an S&P 500 for the USA above 1300 at the end of 2011 will in all probability lose their bet. But the year still ends on a positive note.
http://www.bloomberg.com/news/2011-12-21/asian-stocks-jump-as-euro-gains-on-u-s-growth-europe-bond-risk-declines.html
