Editor, Investment Strategy. Europe, Middle East and Africa, London
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Apr 5, 2013

Herd scatters again as correlations weaken

LONDON, April 5 (Reuters) – The investment herd is
scattering again in a sign of less stressful times, encouraged
by resolute central bank protection even if scarce growth and
jobs may deter funds from straying too far.

One of the defining features of the crisis of the past six
years has been hyper-correlation of global markets – where
assets as diverse as equities and commodities, high-yield debt
or emerging markets moved in lockstep as fears for the stability
of the global financial system ebbed and flowed.

Apr 4, 2013
via Global Investing

Weekly Radar: Q1 earnings test as the herd scatters

US Q1 EARNINGS START/DUBLIN EURO GROUP MEETING/US T-SECRETARY LEW IN BERLIN-PARIS/US-FRANCE-ITALY GOVT BOND AUCTIONS/FRANCE NATL ASSEMBLY VOTES ON LABOUR REFORM/VENEZUELA ELECTIONS

World markets have started the second quarter in an oddly indecisive mood given that Q1 turned out to be yet another bumper start to the year, looking to extend record stock market highs on Wall St but lacking the juice of new information to make a decisive break while Europe splutters and emerging markets and commodities head south. Two important pieces of the U.S. jigsaw will likely emerge over the coming week  with this Friday’s US employment report and the start of the Q1 corporate earnings season next week.

Apr 3, 2013

Jobless youths could drag on recovery

LONDON (Reuters) – The global economy is recovering – although the younger you are and the longer you’ve been out of work, the less likely it is that you’ll have noticed.

A modest upturn in the major developed economies flagged last week by the Organisation for Economic Cooperation and Development should be a considerable relief for Western countries still struggling to run down huge debts.

Apr 3, 2013

Analysis: Jobless youths could drag on recovery

LONDON (Reuters) – The global economy is recovering – although the younger you are and the longer you’ve been out of work, the less likely it is that you’ll have noticed.

A modest upturn in the major developed economies flagged last week by the Organisation for Economic Cooperation and Development should be a considerable relief for Western countries still struggling to run down huge debts.

Mar 29, 2013

Investors wary of “slow panic” on growth after Cyprus rescue

LONDON (Reuters) – World markets have reacted calmly to the twists and turns of Cyprus’s financial rescue in the last fortnight but many investors fear the economic fallout is yet to come.

They have sold European assets, rather than make a global dash for safety that could signal concerns about a euro breakup.

Mar 28, 2013
via Global Investing

Weekly Radar-”Slow panic” feared on Cyprus as central banks meet and US reports jobless

Photo

US MARCH JOBS REPORT/THREE OF G4 CENTRAL BANKS THURS/NEW QUARTER BEGINS/FINAL MARCH PMIS/KENYA SUPREME COURT RULING/SPAIN-FRANCE BOND AUCTIONS

Given the sound and fury of the past fortnight, it’s hard not to conclude that the messiness of the eventual Cyprus bailout is another inflection point in the whole euro crisis. For most observers, including Mr Dijsselbloem it seems, it ups the ante again on several fronts – 1) possible bank contagion via nervy senior creditors and depositors fearful of bail-ins at the region’s weakest institutions; 2) an unwelcome rise in the cost of borrowing for European banks who remain far more levered than US peers and are already grinding down balance sheets to the detriment of the hobbled European economy; and 3) likely heavy economic and social pressures in Cyprus going forward that, like Greece, increase euro exit risk to some degree. Add reasonable concerns about the credibility and coherence of euro policymaking during this latest episode and a side-order of German/Dutch ‘orthodoxy’ in sharp relief and it all looks a bit rum again.

Mar 26, 2013
Mar 25, 2013
Mar 22, 2013

The benefit of the doubt

LONDON, March 22 (Reuters) – More dogged than complacent,
global investors appear determined to stay the course with
equities, betting on a bumpy and protracted economic healing.

The first quarter of another turbulent year comes to a close
next week with no shortage of potential prompts to cash in on
what for some was a counter-intuitive bull run in the major
stock markets to five-year highs.

Mar 22, 2013
    • About Mike

      "Mike Dolan is Reuters' Investment Strategy Editor in Europe. He has been a correspondent and editor for the past 20 years, working for Reuters from London and Washington DC in a variety of roles covering global policymaking, economics and investment trends."
      Joined Reuters:
      1995
      Awards:
      Reuters Editor of the Year, 2009. Reuters multimedia journalist of the year award, 2011
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