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12 Jul 2013
Flash: Optimism soars despite stress in Europe – Investec
FXstreet.com (New York) - According to Lee McDarby, Corporate Treasury at Investec, “The theme of optimism running through markets is quite impressive considering the backdrop of the newsfeed in recent days, particularly in Europe.”
Portuguese and Italian political instability remains, as there are concerns about Spain keeping its Investment Grade credit rating in light of Italy’s downgrade last week and there were protests in Greece as parliament debated a bill bundling together a range of economic reforms – clear signs that all is by no means fixed on the continent.
Briefly on the UK economy, there is increasing focus on the housing market recovery and one UK paper leads this morning with an article on how 85% mortgages are making a return to help buoy the housing market, with some analysts highlighting fears this will prompt another housing bubble.
Portuguese and Italian political instability remains, as there are concerns about Spain keeping its Investment Grade credit rating in light of Italy’s downgrade last week and there were protests in Greece as parliament debated a bill bundling together a range of economic reforms – clear signs that all is by no means fixed on the continent.
Briefly on the UK economy, there is increasing focus on the housing market recovery and one UK paper leads this morning with an article on how 85% mortgages are making a return to help buoy the housing market, with some analysts highlighting fears this will prompt another housing bubble.