As stocks strive to whistle past the grave yard yet another day, the US dollar and US bonds continue to attract liquidity focused, relative “safe haven” capital flows. Precious metals are not. Touching 83.90 today, the US dollar Index is now at the highest level since 2010 just before the Fed’s anxious QE experiments knocked the greenback lower. With the Euro, Yen and Canadian dollar all falling(Canadian manufacturing sales for March disappointing this morning, down for 3 of the past 4 months), no economies are looking immune from the global recession.
Peter Bofinger, economist from the German Council of Economic Experts, tells CNBC that he is concerned that the worst of the euro zone crisis is not over and it is spreading to the core. Here is direct link.
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