Regional Specialists Review July 2011
Overview: The reports attached illustrate the buffeting of a global recovery that is fighting the headwinds of excessive debt accumulated when times were good and seemingly going to last forever. Political timidity or inconclusive policies in Europe and the U.S. have bred uncertainty, anathema to markets.
But Japan is bouncing back, albeit tenuously, from its natural and nuclear disasters, and rapidly fixing the supply chain problems it experienced. Commodity prices have reversed some of their excessive incrases and interest rates remain stimulative through a large swath of the global economy.