Financial Markets Climbed Modestly Despite Mixed Headlines

Financial markets rose yesterday on encouraging US data, rumors of a delay to the implementation of Basel III and IMF Director Largarde’s comments on the Eurozone debt crisis. Yet, gains were modest as sentiment was damped by some bad news such as S&P’s downgrade of Spanish credit rating and Largarde’s call for EU member countries and central banks to take a haircut on their Greek debt holdings.

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Financial Markets Climbed Modestly Despite Mixed Headlines