We’ve gotten used to the markets’ to-the-minute rss feeds
on how they respond to every bit of economic news released in Europe. It’s hard
to get a firm footing in this financial storm.
However, this past Tuesday was a good day for the
housing market as stocks surged, partly in response to positive economic data
on the housing sector in the U.S. and positive indicators from the euro zone.
According to the N.Y.
Times, the hopeful mood in Europe was sparked by reports from a study
showing that “The German economy seems to be successfully countering the
downturn in Western Europe.” as well as by the successful auction of
three-month bills in Spain.
The promise made by Mariano Rajoy, Spain’s newly appointed president, to stimulate the housing market through a housing policy geared
towards growth and cohesion is also seen by investors as a positive and encouraging news feed.
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