|
May 2012
Three steps forward, two steps back - The EU continues to struggle in its attempts to resolve the eurozone sovereign debt crisis. The new fiscal compact, imposing disciplined budgetary management at a national level, was ratified (except by the UK and the Czech Republic) on 2 March and will come into force from the beginning of next year. This was followed by an agreed “haircut” for private investors in Greek debt and the introduction of measures to boost the financial arsenal available to fight future sovereign default threats via bailout funds. In the wake of these events, the markets decided to grant the eurozone a grace period. However, the honeymoon ended abruptly in early April, as it became clear that these developments were barely able to put the crisis on hold, let alone resolve it.
April 2012
Japan’s new dawn? - Ever since last year’s traumatic events at Fukushima, investors have generally given Japan a wide berth. In the aftermath of that tragedy, the domestic manufacturing sector suffered greatly from a supply-chain disruption that held back production in many industries. Largely because of this, Japan’s trade balance moved into deficit last year for the first time since 1963..
View all market views
|
PDF: 
