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Commodity markets uninspired by China spending plans

Posted on 06 March 2009

From FT: Oil prices fell and base metals were mixed as traders reacted with caution to the lack of concrete spending pledges in the new economic stimulus plans announced by China on Thursday.

“The main goal of the Chinese government announcement is to inject some confidence into markets”, said Yingxi Yu of Barclays Capital: “The comments will have a far greater impact on sentiment than on consumption, certainly for the next few months.” …. Full Article: Source


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