Merkel supports ECB approach

Source: Bloomberg
German Chancellor Angela Merkel supported the ECB's approach to decrease borrowing costs in ailing economies. Merkel,returning to the crisis fight after summer vacation, used her trip to Canada to make first comments on the European troubles in a month. Chancellor recognized Canada's debt and budget discipline as a role model for Eurozone. 
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Fri, 17 Aug 2012 06:40:37 GMT

Oil falls on belief its not sustainable

Oil dropped after a three-day rally, cutting a third weekly rise in New York amid speculation its climb to a three-month high was not reasonable. On Friday, futures declined 0.7%, after a 1.4% gain yesterday to $95.60 per barrel, the highest since May11. September-delivery oil slid to $94.98 per barrel. Brent October-settlement crude slipped 1.2% to $113.90 per barrel in

Fri, 17 Aug 2012 15:50:55 GMT

Treasuries jumped on economic data

The U.S. treasuries jumped on Thursday, pushing 10- year note yields lower by 1.43% to 1.79%. The two-year notes erased 1 basis point to 0.28%. Initial jobless claims in the U.S. rose slightly to 366 thousand in the week ended August 11. In the property market, the number of new residential buildings declined by 1.1 per cent in July to 746,000 units.

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