THE good news is that, ash notwithstanding, the global recovery is continuing. The bad news is that markets have begun to focus on countries' fiscal burdens sooner than we had suspected they would.Read
COMPASS - We have upgraded our EPS forecasts for all three forecast years following another strong trading update. We have also raised our DCF derived fair value to 570p and reiterate our buy recommendation.Read
IN OUR view, the macro-economic debate feels as if it has shifted significantly over the last week. No single news item has been responsible for this shift.Read
HERE at Barclays Wealth, we formally review our asset allocation recommendations on a quarterly basis. This time around, as we enter the second quarter, the danger facing the global economy and markets seems clear and very present.Read
EQUITIES and other "risky" assets have performed rather better in recent weeks, helped by the repeated promise from the US Federal Reserve to keep interest rates at "exceptionally low levels" for an "extended period".Read
RISK appetite seems to be stabilising again. Stocks, commodities and corporate credit are at the top of their recent trading ranges; government bonds and the VIX - Wall Street's so-called fear index - have been close to the bottom of theirs.Read
MARKETS look range-bound still. Global stocks, credit and commodities have rallied since February's swoon, but have yet to reach new highs; meanwhile, "safe haven" Treasury yields are up from their lows.Read
IN recent weeks, worries about Greece and some other Euro- area economies, as well as news of moves to restrict loan growth in China, have both caused the markets particular concern.Read
OFFICIAL interest rates were cut to very low levels during the financial crisis. With the world economy now starting to get back on its feet, the big question is when the world’s monetary authorities will start raising interest rates back to normal levels again.Read
EUROPEAN government debt markets have had a rough time of late; fears about Greece’s financial health and worries that "contagion" could spread to other economies such as Portugal, Ireland, Greece and Spain have both played their part in the recent volatility.Read
MARKETS’ concerns over Wood Group’s exposure to the US and the slowdown of its engineering activities have led the shares to underperform the energy sector by 12% over the past three months.Read
NEW investors will need reminding that cash deposit rates are still at very low levels by historical standards. But a renewed recession - something which could help trigger renewed "safe haven" demand for cash - looks unlikely. Read
STOCKS were hit by a double whammy last week - namely fears that China's monetary tightening will slow global growth and concerns relating to President Obama’s proposed reforms of the US financial sector. Read
WE are initiating coverage of Aberdeen Asset Management with an outperform recommendation. The asset managers have performed well in 2009, on the back of rallying markets.Read
LAST week, the European Central Bank (ECB) kept its base rate on hold at 1%, much as markets had expected, with the accompanying statement indicating that the economic recovery would be "uneven".Read
GOVERNMENT bonds proved a popular safe haven in 2008-09 as investors, frightened by market traumas, plumped for the security government debt seemed to give - despite low, or even negative, real yields that were on offer for this asset class.Read
AS what has been one of the most volatile years for equity markets in living memory draws to a close, it is time to start thinking about the likely direction that markets will take as we enter the next stage of the recovery.Read
Andrew Miller is regional office head of Barclays Wealth and formerly worked for Gerard Investments. He writes regular opinion pieces in The Journal where he analyses the North Eastýs listed companies.
