The long road ahead |
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US lawmakers have reached agreement on a rescue package, and I expect it will be approved by Congress within the next few days although the debate will remain heated. The skeptical reaction of Asian equity markets so far today perfectly captures the situation, in my view: the rescue package pulls us back from the brink and over time it will help restore confidence and normal functioning in financial markets. But the normalization process will be prolonged and difficult, and will have to unfold
Filed under: Fundamental
Latest Posts
- Stock markets continue weakening
- ECB to ease aggressively - yields will fall further
- London Gold Market Report
- Euroland: Very weak PMI should spur ECB to cut rates dramatically
- Currency Currents
- Currencies also sidelined although some Yen crosses dipped below October’s low
- Currencies also sidelined although some Yen crosses dipped below October’s low
- Currency Currents
- What will happen in the American session?
- Power up!
- Power up!
- Rating cycle turning decisively negative
- Rating cycle turning decisively negative
- Sterling looks for relief
- The drag on the real economy is enormous