Thursday, 3 July 2008

News: BoA/Countrywide and ECB. 2008-07-03

Some News at last!
Bank of America takes over Countrywide and ECB raises interest rates.
2008-07-03 23:33 GMT

Well, it's been boring with gold consolidating so nothing to say. This blog isn't a running commentary. Let John Nadler at Kitco and the big financial news agencies waste their and your time by commenting on nothing all the time and telling you nothing of any use.

Today's news is worth mentioning.

I was putting on my new Favourite places after AOL managed to erase my old ones when I upgraded to their new network. I looked for Countrywide. It wasn't there on Yahoo Finance.

"Invalid ticker," it said. I then went to the news on Google and there it was: B of A took over Countrywide, as had been expected. Very quiet and buried under other news when it actually happened.

The other news: The European Central Bank raises interest rate by 1/4 point to 4.25%. The USA Fed is at 2%. What to expect? Euro should rise? Dollar go down? Gold go up possibly?

The opposite happened. Again the news agencies will find all kinds of spurious reasons why this was so. Do you want to waste your time reading them? I don't.

No comments: