I've got to say the global outlook seems rather bleak. Are we heading towards another "perfect storm"?
Fears of a repeat of the global financial crisis we witnessed in 2008 continue to dominate markets amid concerns of the EU contagion spreading, continued US slowdown and a worse than expected slowdown in China and the rest of Asia. In the short term, we expect most corporates and financial institutions to brace themselves for continued volatility and uncertainty. The additional challenge of Basel III capital and return implications for banks and consequential cost implications flowing to the broader credit markets are also going to be a key consideration in the next couple of years.
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