A BRIGHTER TONE
POLITICAL FORECAST
LONDON, 13th June.
. The Stock Exchange has assumed a decidedly brighter tone. Although the German news is disquieting, most markets have shown firmness. .
According to some newspapers, one of the chief influences operating is the growing hope that the Mac Donald Government will be defeated next week, and that an immediate dissolution will follow.
On this assumption there has been -a considerable amount, of "bear" covering, especially in home rails, which, has sent prices up all round. Gilt-edged securities, of course, participated in the upward movement, and a most satisfactory feature .was a further improvement in Australian stocks, which have been consistently moving higher from the moment it became known that the conversion loan was to be on a voluntary basis.
On this subject "The Economist" writes: "There is no doubt from the standpoint of Australia's credit that the decision is a wise one. So, too, is the determination to press forward with other economies, for in addition to the direct and substantial contribution they will make to the rehabilitation of national finances, they, will remove any fear that the bondholder 'is being singled out for special treatment.
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Bibliographic details
Evening Post, Volume CXI, Issue 139, 15 June 1931, Page 12
Word Count
193A BRIGHTER TONE Evening Post, Volume CXI, Issue 139, 15 June 1931, Page 12
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