Bond Outlook
We recently attended a conference where one questioner used the term “stinky currencies” to describe both the USD and the EUR. Given the state of both the US and the euro zone economies, this description does not appear inappropriate. The exchange rate between the two currencies varies with whichever area is receiving the more dominant press coverage, whilst all the while, the CHF strengthens. As of this week, the gloom in Europe is outdoing that of the USA, but is it unlikely to be long before the pendulum swings back. |
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