THE CONTINENTAL ECONOMICS INSTITUTE
CURRENCY REVIEW
WORLD ECONOMIC OUTLOOK
JULY 2012
While
confidence in many European countries has been eroding over the past quarters,
a loss of confidence may also happen any time soon when it comes to the United
States. In Europe it was mainly churning that has happened in so far as
investors who left Spain and Italy could buy German bonds. Yet where can
investors flee to when confidence in the US begins to erode? Let's keep our
eyes open and watch out where the smart money will run to in the second half of
2012. Gold? Back into euro bonds? Commodities again? Could it be that when a
more realistic assessment will replace the current tide of prejudice, investors
will notice that the one place where assets sell below value could be Europe?
It is better not to pre-program one's mind and make premature predictions yet
let's be aware that when things will change, they probably will change
dramatically this time.
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