Volatility swept over the markets as investors were taken by surprise on Tuesday after Greek Prime Minister George Papandreou called for a referendum to the three-pronged “bailout plan” agreed upon in Brussels last week. Domestic equity indexes tumbled upwards of 2% for the day as investors were reminded that EU policymakers were only headed in the right direction, and not actually out of the woods. “If it continues with Papandreou and the referendum, we will end up with a default and the default will push us into the drachma,” former Greek Finance Minister Stefanos Manos said in an interview with Dublin-based broadcaster RTE today. Gold prices oscillated for much of the day, and the precious metal managed to settle around $1,720 an ounce in the afternoon. The U.S. Federal Open Market Committee is scheduled to announce its decision regarding interest rates later today and analysts are expecting for the rate to [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Bulls In Drivers Seat ETF Insider: Greece Flirts With Default ETF Insider: Does Gold Still Glitter? Friday’s ETF To Watch: iShares Barclays 20 Year Treasury Bond Fund (TLT) Three ETFs For ‘Operation Twist’
Volatility swept over the markets as investors were taken by surprise on Tuesday after Greek Prime Minister George Papandreou called for a referendum to the three-pronged “bailout plan” agreed upon in Brussels last week. Domestic equity indexes tumbled upwards of 2% for the day as investors were reminded that EU policymakers were only headed in the right direction, and not actually out of the woods. “If it continues with Papandreou and the referendum, we will end up with a default and the default will push us into the drachma,” former Greek Finance Minister Stefanos Manos said in an interview with Dublin-based broadcaster RTE today. Gold prices oscillated for much of the day, and the precious metal managed to settle around $1,720 an ounce in the afternoon. The U.S. Federal Open Market Committee is scheduled to announce its decision regarding interest rates later today and analysts are expecting for the rate to [...]
Click here to read the original article on ETFdb.com.
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