Investors may see another bout of market weakness by the middle of the year

January 30th, 2012|by Michael Ashley Schulman, Perspectives, The Big Picture|

The European Central Banks’s (ECB’s) new three-year long term refinancing operation (LTRO) has lessened the chance of a euro area-wide bank run, which will benefit risk assets in the near-term. However, the underlying structural problems in Europe remain unresolved, and the increase in Portugal’s long-term borrowing rates to fresh highs suggests that the firewall around […]