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Global economies exhibited signs of recovery in recent weeks, as evidenced in the rally in stock markets across the globe since March 2009. The positive sentiment palpable in recent months manifested during the week ended June 12, 2009, with all leading macroeconomic indicators rising. U.S. retail sales rose 0.5 percent in May, the first such [...]
General Motors Corporation filed for bankruptcy on June 1, 2009. Despite its global repercussion, equity markets remained buoyant during the week ended June 5, 2009, in anticipation of an economic revival. In the UK, housing prices rose 2.6 percent month-on-month in May 2009, the first since 2002. This led to the expectation of an economic [...]
Optimism of an economic recovery coupled with better-than-expected macroeconomic data from leading economies pushed global equity markets to a new high during the week ended May 29, 2009. The US GDP growth contraction improved to 5.7 percent in the first quarter of 2009 as against the provisional data, which indicated a decline of 6.1 percent. [...]
After weeks of gains, global equity markets corrected during the week, mainly due to profit booking and lack of positive cues on the macroeconomic front. According to the Dow Jones Newswires survey, retail sales were expected to expand by 0.1 percent. However, US retail sales fell a higher-than-expected 0.4 percent in April 2009, after shrinking [...]
The much awaited results of the stress test of the 19 US banks were released by the US Treasury on May 8, 2009. It highlighted the improving conditions of leading financial institutions. According to the result, 10 out of 19 banks, which underwent the stress test, required around US$75 billion in case of worsening macroeconomic [...]
Global equity markets remained upbeat for the fifth consecutive week as expectations of economic revival gained momentum after leading foreign banks declared higher-than-expected profits in the first quarter of 2009. Wells Fargo & Company announced a net income of US$3 billion for the quarter ended March 31, 2009, adding to the euphoria of an early [...]
Global equity markets had a great rally for the third successive week during the week ended March 27, 2009, as broader indices recovered majority of the losses suffered in the first two months of 2009. The US government announced a Public-Private Partnership (PPP) plan to buy toxic assets from banks to free up capital, enabling [...]
