As a child of the bear market, I have been used to changing trends, but the stark underperformance of Emerging Market (EM) equities versus developed world equities is not something we have become used to in rising markets.
“So many people are taking advantage of government support that they probably feel like, why shouldn’t they take advantage of it, too?” said George Walper Jr., president of the Spectrem Group
Pope Francis, who has said he wants the Catholic Church to be a model of austerity and honesty, could restructure or even close the Vatican's scandal-ridden bank as part of a broad review of its troubled bureaucracy, Vatican sources say.
Coutts, the high-end private bank, has warned its clients against exposing their fortunes to a potential collapse of the high-yield debt market amid growing concerns of a new global credit bubble.
"We are now centrally managed, there is now a standardised policy framework, we are more efficient and effective."