by Martin Armstrong
Armstrong Economics
Quieter equity markets across the globe today with gains decreasing as we move from east to west. Core Asian markets saw returns today of around +1.5% each but the week is to be dominated by Central Bank activity. Today sees the start of the BOJ’s two day meeting but no change in rate is expected by the street. China was happy to keep the Yuan around Fridays level of 6.4913. Few miners starting to see ratings hits due to recent price activity, especially in Australia..
In Europe, we saw the best returns in the DAX (+1.6%) partly on a better than forecasted Industrial Output (Expected +1.7 while actual release was +2.1) but more supported by Draghi’s commitment last week (see Fridays 12th March “Market Talk”).