The latest Reuters surveys of global asset managers confirm what we’ve all been watching over the past month: a mad rush out of safe havens and into stock markets. There seems to be little else to report out of financial markets.
The financial system is in the grips of its most violent
upheaval since the 1930s. A staggering amount of wealth has been
destroyed this year — $11 trillion wiped out from world stock
markets in the past nine months. The damage already is spilling
into the real economy, and fears are spreading among investors
of a deep and damaging downturn.