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>> SMALL BUSINESS ADMINISTRATION Latest News

JUL 25, 2013 - Zero Hedge

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Ugly Start As Sentiment Crunched On Cracked Credit Creation In Europe

At precisely 4 am Eastern two opposite things happened: the German IFO Business Climate for July printed at a better than expected 106.2 vs 105.9 in June and higher than the 106.1 consensus: news which would have been EURUSD positive. And yet the EUR tumbled. Why? Because at the same time the ECB provided an update to the chart that "keeps Mario Draghi up at night" as we reminded readers yesterday - the ECB's all important credit creation update in the form of the M3, which not only missed expectations (of +3%) but declined from 2.9% to 2.8%. But more importantly, ECB lending to private ... Read More

Tags: Ugly Start As Sentiment Crunched On Cracked Credit Creation In Europe,  Small Business Administration Latest News