Beware Psychological Contagion
While everyone is busy trying to argue that another Spain downgrade is baked in (it should have been, but it's not certain it was), it would help to look back at some salient points from data earlier in the week.
The U.K. economy fell into an official double-dip recession this week, despite hopes that a panic over gasoline would pump (geddit?) up the numbers. A fall in construction activity was the main culprit for the contraction....448 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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