- China increased short-term rates 25 basis points in a general tightening of monetary policy in reaction to inflationary pressures.
- China is world's 2nd largest car market.
- $ down slightly
- oil down at $91.04/bbl., copper up slightly
- Europeans made well in excess of 20% buying U.S. stocks in 2010 as Euro dropped in reaction to Europe's credit problems.
- S&P 500 company profits up 42% in 3rd quarter, 79% of cos. beat estimates.
- Most analysts expect $ to continue to appreciate versus Euro.
- Oil consumption up by more than 1 million bbls./day, total exceeding 20 million bbls./day.
- Actively managed fund managers not having a good year.
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Monday, December 27, 2010