The Gold Standard | Business as usual with PKO

Could not help feeling that Price-Keeping Operations have commenced in American stock markets with 3:00 PM and 3:30 PM rallies in US stocks over the last two days on rather flimsy rumours relating to Europe. They eclipsed very lousy macro data from both the US and Europe, not to mention China’s loan growth prospects in 2012, the setback for HSBC PMI in China, etc.

Of course, of course, some would point to positioning, technicals, oversold conditions, etc. Been there and seen that.

DISCLAIMER: This is an archived post from the Indian National Interest blogroll. Views expressed are those of the blogger's and do not represent The Takshashila Institution’s view.