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31st January 2012
Daily Markets Wrap Up – Thursday, January 26th, 2012

Global Markets
• Stocks rose to a three-month high while commodities and Treasuries gained after the Federal Reserve signalled plans to maintain near-zero interest rates through 2014.
• Junk-bond trading volumes are rebounding to the highest level in 11 months as optimism the U.S. economy can weather Europe’s debt crisis kindles investor appetites for riskier assets.
• The dollar fell to the weakest in more than a month against the euro after the Federal Reserve extended its pledge to keep interest rates low until late 2014.
• Gold climbed to an almost seven-week high on speculation that the Federal Reserve’s pledge to keep interest rates low will drive the dollar lower and boost demand for precious metals as an alternative asset.
• Industrial metals are heading for the best start in at least 11 years as falling stockpiles add to speculation that demand is strengthening in China and the U.S. The London Metal Exchange index of six industrial metals is up 12 percent this year, the most since at least 2001.
 
 

Caribbean

Jamaica
• Canadian company Solamon Energy Corporation has announced plans for a US $450 million solar power plant in Jamaica. Solamon Senior Vice President Ainsley Brown said several parishes were being considered as future homes of one of the three 50 acre plots that when conjoined will provide 60MW of clean electricity.

St. Kitts & Nevis
• The Executive Board of the International Monetary Fund (IMF) on Wednesday completed the first review of St. Kitts and Nevis’ economic performance under a program supported by a 36 month stand-by arrangement. The completion of the review allows the immediate disbursement of an amount equivalent to SDR 11.47 million (about US $17.6 million), bringing total disbursements under the arrangements to SDR 33.62 million.

Trinidad & Tobago
• Tourism Minister Dr. Rupert Griffith has reported that latest data showed that all hotels in Trinidad were booked to capacity for the country’s upcoming Carnival Season. The Minister added that expectations were for 60,000 tourists entering the island for the Carnival Thursday to Ash Wednesday period; an increase over 10,000 when compared to 2010.

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