Hopes that Asia is going to be the new engine of the global economy are overblown at this point, cautions Stephen Roach, chairman at Morgan Stanley Asia. He tells CNBC’s Martin Soong, Karen Tso & Sri Jegarajah why.
Airtime: Mon. Jun. 29 2009 | 7:31 PM ET
Do not value money for any more nor any less than its worth; it is a good servant but a bad master. ~Alexandre Dumas fils, Camille, 1852
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
read more »
June 30th, 2009 at 9:18 pm
I heard a gentleman on Bloomberg radio talking about Asian equities and coined the phrase “bamboo shoots” cf. “green shoots”, pretty insane…