Intraday Thoughts - November 17, 2008
The trouble with growing polarity in global politics is that nothing substantial comes out until crises become either worse or things are too late. The G20 meetings over the weekend may be hailed for its inclusion of the leading developing economies but came up short of specifics and substance merely calling for ‘broader policy response’ and coordination of monetary and fiscal action between the countries. For the markets the lack of strong leadership to push through binding commitments means continued uncertainty which suggests a risk averse gapping open in Asia that will favor the Yen and the dollar
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Intraday Thoughts - November 17, 2008
