The S&P 500 stock index closed the year at 1257.6, which is exactly (!) where it closed the previous year. This may be a bit disappointing for some, but overall it reflects the quiet year that 2011 was for the financial markets.
The Euro/USD FX rate closed the year at 1.2952, exactly unchanged from early January, reflecting of course the calm and stable development of the Euro zone.
The same stability was also seen in the price of crude oil, in large part due to the stability of the Middle East.
However, a very positive development was seen in US bond markets, with the interest rate e.g. on 10-year treasuries falling from 3.3% to 1.8% during the year; The markets expressing confidence in the wise leadership of US politicians and strong faith in the current government.
All in all 2011 was an uneventful and almost boring year for the financial markets, reflecting the stability of the world economy and the wisdom of its leaders; We can only hope that this will continue in 2012...
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5 comments:
you watch too much North Korean tv
"and the wisdom of its leaders"
Maybe it reflects the wisdom of the populations that elect those leaders.
Thank you - that was very reassuring.
And that broken old clock I keep meaning to throw away was right on rather frequently this year.
>> the wisdom of the populations that elect those leaders
I think we will soon see this wisdom in Iowa 8-)
>> that broken old clock
and the really good thing about it is that you know exactly when it will be right...
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