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Response to Tansy_Gold (Original post)

Wed Dec 5, 2012, 10:43 AM

40. Stocks, Commodities Rise as China Gains; Spain Bonds Fall

http://www.bloomberg.com/news/2012-12-05/euro-hits-seven-week-high-jgb-yields-fall-on-cliff-correct-.html

Stocks (MXWD) gained for the first time in three days and commodities rose as China eased restrictions on investing in banks and its new leaders backed urban development. Spain’s bonds extended losses after the government missed its maximum sales target at a debt sale. The yen weakened.

The MSCI All-Country World Index advanced 0.2 percent at 9:33 a.m. in New York and the Standard & Poor’s 500 Index increased 0.1 percent. China’s stocks rallied the most in three months. The yen weakened against 15 of its 16 major peers. Spain’s 10-year yield jumped 18 basis points to 5.43 percent, while European bank creditworthiness climbed to the highest in 18 months. The S&P GSCI gauge of 24 raw materials added 0.1 percent and zinc gained 0.3 percent.

China’s regulators abolished a rule limiting insurers’ investments in commercial banks and Xinhua news agency said yesterday after a meeting of top party leaders that China will actively promote urbanization and expand domestic demand. Spain sold 4.25 billion euros ($5.6 billion) of debt due between 2015 and 2022, less than the 4.5 billion-euro target.

“There’s a lot of talk about potential policy support for China’s economy,” said Tim Leung, a fund manager who helps manage about $1.5 billion at IG Investment Ltd. in Hong Kong. “While urbanization is not new, people will probably focusing on that trend. There’s a lot of positive benefit from urbanization, like infrastructure spending.”

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