Bank Research Consensus Weekly 05.31.10
Bank Research Consensus Weekly 05.31.10
Risks are easy to find these days - sovereign risks, rising concerns about the banking sector, funding markets...take your pick. While elevated sovereign risks should not have come as a surprise (see Global Forecast Snapshots, December 9, 2009), the other two problems have brought with them a sense of dj vu of the 2008 financial crisis. At a time when disagreements about the future course of the economy and markets are again widespread, however, one thing is universally accepted: the longer the sovereign credit concerns remain in place in the euro area, the greater is the chance that they will spill over into contagion or growth concerns elsewhere. Manoj Pradhan, Global Economics Team, Morgan Stanley
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