Bond Outlook [by bridport & cie, July 21st 2010]
In this Weekly we often like to observe that we are witnessing history in the making: the shift in economic power from West to East, the rise of the EUR as an alternative reserve currency, the impossibility of the USA continuing to spend more than it earns, and the development of emerging markets. These things are happening. We also expect, someday, the emergence of a third reserve currency based on Asia’s economic strength. |
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