Daily
Market Color
07/04/2013
Economic
Reports & Headlines
Although US markets are closed in
observance of Independence Day, they were still reports that were released that
merit extra attention. We will start off in the UK with a gauge on home prices.
The Halifax Home Price Index in
the UK for June came in better than expected on both a monthly and annual
basis. Monthly: 60bps Vs 40 Bps, Yearly: 370bps Vs 360bps.
The bank of England released
their monetary policy announcement. Mark Carney, the newly elected governor for
the BoE who headed the Bank of Canada before moving to the UK, left the key
rate and the asset purchase program unchanged.
First quarter gross domestic
product, in the Eurozone, came in slightly worse than expected on a quarterly
basis, -30bps Vs -20bps.
The European Central Bank
released their monetary policy announcement which was uneventful. The bank left
their key rates unchanged.
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