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Desperately Seeking Yield
Contrarian Profits (June 26th, 2009) Writes:
Currencies rally… More on the BRIC’s… New Zealand’s GDP contracts.. Bernanke gets grilled! And Now… Today’s Pfennig!
Good day… And a Happy Friday to one and all! The end of what seemed to be a very long week… The last weekend in June, can you believe that? Next week, we’ll be getting ready for the 4th of July celebrations! WOW!
Well… What a volatile week it has been in the currencies! Up, down, all around, and settling back to levels that we saw before the Fed’s FOMC meeting earlier this week. Suddenly, investors are looking for yield again… Looks like they are “Desperately Seeking (not Susan) Yield! And why not? The Fed, and the Bank of Canada (BOC) have come out and said that there will be no interest rate hikes until we’ve turned quite a few pages on the 2010 calendar.
So, with investors clamoring for yield, the dollar gets taken to the woodshed… As I
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