Whilst markets have rebounded, uncertainty persists in the global economy. Investors are still nervous about the speed at which countries in Europe withdraw fiscal support for their economies. It has also revived worries about consumer price deflation in the developed countries. At the same time, credit tightening in China and fear of unsustainable asset bubble also add to investors’ concerns. Nevertheless, we believe the risk to the global economy is a sharper-than-expected slowdown in the 2H and not a “double-dip”.
Market Outlook & Strategy 2H2010 : Still A Bumpy Ride - 1/7/2010
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