G7 Keeps Europe’s Hope Alive

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An air of optimism following the G7 conference call, wherein members agreed to coordinate their response to the European debt crisis has boosted demand for high yield assets this morning. With the worsening situation in peripheral Eurozone economies, markets await some fresh action from the ECB at its monetary policy meeting and the subsequent press conference due later today. Across the Atlantic, last week’s dismal jobs report has rekindled hopes of QE3 and today’s Beige book economic survey is likely to provide some food for thought.

At home, data just out indicates that construction activity fell for May, in sync with last week’s poor manufacturing numbers.

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G7 Keeps Europe’s Hope Alive

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