Despite the seasonal factors behind the recent surge in Chinese interbank rates, experts have argued that it has persisted because of the tough stance taken by Chinese policymakers. Societe Generale's Wei Yao expects liquidity conditions to stay tight through the second half of 2013.
Canadian Solar Inc., a producer of photovoltaic panels, expects to report its first quarterly profit in more than two years as shipments and sales rise.
“The company expects to be profitable at the net-income level” for the three months ended Sept. 30, the Guelph, Ontario-based manufacturer said today in a statement. Results will be published Nov. 13.
Demand for gold was relatively resilient in the first quarter of 2012, with global demand falling 5 percent on a year-over-year basis, says the World Gold Council. Marcus Grubb, managing director of investment, calls this slight quarter decline in demand “noise in the context of 22 percent rise” in the price of gold compared to first quarter of 2011. Also, gold demand was very strong in the first three months of last year.