Tuesday, October 05, 2010

Quick Overview

  • Japan announced it will buy more bonds and cut its key overnight call rate to a range of 0.0%-0.1%

  • Australia held steady on interest rates, bucking expectations by most economists that it would boost rates.

  • The Institute of Supply Management’s non-manufacturing index rose to 53.8 per cent from 51.5 per cent in August.

  • Silver continues to outperform gold, with the number of ounces of silver needed to buy an ounce of gold slipping to a one-year low at 59.15.

  • The US Grains Council estimates China's corn production at 6.22 billion bushels, down 320 million from USDA's estimate and down 280 million from China's estimate.

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