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The battle of capital rebirth
Author: ice touches your heart
China's interest rate hike triggered an earthquake in the global capital market
Updated at 2010-10-2116: 45: 22 words: 1687.
Raising interest rates is a monetary phenomenon, so it is conceivable that the foreign exchange market experienced an earthquake. However, on Tuesday, China announced that it would raise interest rates, and the global capital markets, including gold, crude oil and international commodity futures markets, all experienced considerable earthquakes, especially in Europe and America, where the price of gold fell sharply, which was only 4.58% on February 4, 2009, one of the biggest declines in five years. In today's trading, copper futures prices fell by 1.6%, and crude oil futures prices fell by 3% to below $80 per barrel.
It is conceivable that the prices of agricultural products, aluminum, nickel, zinc and tin, which are regarded as scarce resources, will also begin to fall back. The market faces the interest rate increase of the Bank of China with a near-fear mentality, but it doesn't know where this fear mentality comes from and where it will go. So, first of all, gold overthrew the first domino and began to plummet. Then commodities and global stock markets fell at the same time, but stabilized in an unknown way.
Only the real estate speculators in China are desperate. They seem invulnerable and brave, but they don't know what lies ahead. Although there is no interest rate hike involved, from the transaction situation of the property market in first-tier cities, although the transaction volume is only a quarter of the normal transaction volume, the house price just does not fall. If you persist in this way, it will explode one day. Now there are a lot of people who pay down payment on loans, but the result is still not paid. As far as Shenzhen is concerned, the 1 16 set was sold on 19, but the house price reached 22,900 yuan. This is definitely not a demand, nor an improvement, but a purchase by naked speculators.
Under such pressure, China's interest rate hike was finally forced out. Unexpectedly, it triggered a major earthquake in the global capital market, which not only affected Europe and America. ...