Oct 28, 2010
| Last Updated
- Investment decisions at the end of 2010 will require an uneasy balance between recognition that high beta financial assets have little room left to run and 'forced' risk retention due to wider portfolio rebalancing. QE2 will have little impact on bank earnings and bank assets look fully priced, given the fiscal, credit and currency issues that abound.
- Most of the risks posed by headlines are surprising only in the degree and timing of reaction. The backwash from the U.S. real estate bubble has been suppressed by “extend and pretend” techniques and, until recently, over-shadowed by[...]
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