Sunday, Feb 15, 2009
Economic rescue boat to nowhere
Investment Postcards: Investment Postcards from Cape Town: Words from the (investment) wise for the week that was (February 9 – 15, 2009)
Events during the past few days were dominated by the announcement of US Treasury Secretary Timothy Geithner’s financial stability plan and a deal reached by Congress on the economic stimulus bill. However, the much-anticipated bailout bang soon whimpered as investors were disappointed about the lack of “beef”.
Meanwhile, markets were also mired in uncertainty on the back of fresh evidence of headwinds facing the global economy – notably in major economies such as the UK, continental Europe and Japan.
Stock markets were on the receiving end as risk-averse investors sought out the safe havens of the US dollar, gold and bonds.
Read all about this and the implications for financial markets in the weekly “Words from the Wise” review.
Posted by prieur du plessis @ 08:54 AM (175 views) Add Comment
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