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Financial Market Bulletin - Jan 11th 2010
A Quantum of Solace
Whilst financial relations became frosty following Iceland’s decision to block a deal to repay Britain and the Netherlands some €3.9bn lost by savers in the country’s failed banks, stock markets carried on from where they left off before Christmas, continuing their rally into territory not seen since Spring 2008. But analysts are keeping an open mind it seems, with The Financial Times quoting one as saying “It’s way too early to characterise the tone of the market other than saying that for now at least, market participants are looking for a second leg to last year’s run-up in stocks and commodities as the economic recovery shows further signs of stability”. By mid-week a little caution had crept in as investors pondered on official US jobs data due later in the week and the Federal Reserve’s committee minutes from last month were mulled over. In the eurozone, policymakers were trumpeting a ten-year recovery plan and here in the UK investors were left with mixed messages about the pace of economic recovery.
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Extract from this weeks Financial Marketing Bulletin, issued by RBA Wealth Management Ltd.
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