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Topics to watch next week
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After falling sharply over the past few weeks, oil is showing new signs of strength, driven by geopolitical tension and aided by a stabilising dollar. More broadly, the Reuters-Jefferies CRB global commodities index was on track for its biggest weekly advance since July 1975. A sustained rebound would be a blow to investors hoping that a slowing global economy can ease inflationary pressures and allow for central bank action to fight recession.
The conflict between Russia and Georgia may indirectly benefit Iran by making it more difficult for the West to reach consensus with Moscow on new U.N. sanctions, Iranian newspapers said on Sunday.
Political risk is creating some reluctance among investors to commit to emerging markets, but it is the idea of a spill over of economic trouble that is the focus of most investors. Emerging market stocks are down 23 percent year-to-date, even before any signs of big EM economies joining the global economic slide. Now worries are increasing that China may be heading for trouble. Tiny Seychelles, meanwhile, defaulted on a private placement and S&P warned investors a broader default may follow. It would be the first country to default since 2006
Financial stresses from the credit crisis continue to haunt both markets and the banking industry. Fannie Mae and Freddie Mac remain under the gun. The former chief economist at the IMF stirred things with a comment that a large U.S. bank will fail. The Korean Development Bank said on Friday Lehman Brothers could be in its acquisition sites. This came after a report that the U.S. bank was struggling to find an investor. Meanwhile, signs have emerged in money markets of interbank funding tenstion at the end of the year.
U.S. Democratic presidential candidate Barack Obama and newly minted running mate Joseph Biden made their debut on Saturday, with Biden declaring "it's our time" and quickly going on the attack against Republican John McCain.
For the stock market,I expect a good week with rallies.Healthcare sector might be the leader of the rally in the light of acquisitions and general recovery.
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| Tarih
: 8/24/2008 |
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Copyright
© 2006 Mert TOKER All Rights Reserved. |
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