By the time you read this, we should know if the European finance ministers reached a deal Thursday to address the Greece situation. Either way, most believe that the "Greek tragedy" is unlikely to have a happy ending. And this situation bears watching because the end game will have significant implications for Greece, Europe, and the rest of the world.
Gustavo Teruel, CFA, recently spoke with Martin Wolf of the Financial Times about his latest book, recent developments in the eurozone, and the global investing outlook more generally.
Steven Major, CFA, global head of fixed-income research at HSBC, explained that a year ago his team was criticised for predicting long term government yields 1% lower than market consensus. He wished he had been wrong, but today, the term premium on long-end US bonds is negative.
A recent report shows that the crisis in Europe has created opportunities for private wealth clients and the financial professionals who manage their assets.
If we truly aim to serve clients and our societies to the full, prudence guides us to check the assumptions and challenge the mindsets we instinctively rely on.
The Fed continues with its second "installment" of the taper, reducing monetary easing from a total of $85 billion per month two months ago, to a "mere" $65 billion per month in February of 2014. This is the taper heard round the world.
The route to recovery in Europe is so long that there will be plenty of growth opportunities to be captured by investors along the way, says David Kelly, CFA.
In the closing keynote address, Mersch sought to explain how recent policy initiatives have addressed problems brought about by the original design flaws of European monetary union (EMU).