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From Sagar Chakraverty, Opalesque Asia:
In Dec-2009, Kirby Daley, a senior macroeconomic strategist at Newedge, a global prime broker, recently spoke to Opalesque's head, Matthias Knab in Hong Kong about his views on the macro-economic themes in 2010 which are important for Asia-focused global investors.
Daley said, "The relief we have seen in form of economic numbers in 2009 is not real?I think the underlying problem is one of a massive amount of debt. The measures that have been taken so far have exacerbated the underlying problem. 2010 will show us that we are nowhere near being able to exit the type of government help that we have been giving the markets. The very scary thing about that is, governments don't have the ability of finances to continue this level of intervention. So there is a treacherous road ahead."
Newedge offers global, multi-asset brokerage services on a range of listed and OTC derivatives and securities. It is a joint venture between two French banks, Société Générale and Crédit Agricole.
The debt crisis has compelled global investors to put their money in emerging markets because of increasing sovereign credit risks amidst deteriorating fiscal situations in the developed world (see Opalesque exclusive here).
Of late, markets in Asia have exhibit...................... To view our full article Click here
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