Even if some problems are solved in Europe,we still have more to go,according to Nick Colas,Chief Market Strategist at ConvergEx Group.Germany is a special case,a high growth export economy,sending such things as machine tools to China.Spain is like Florida:housing driven,with homes for retirees.
Europe's got to firewall a bunch of the issues in Italy,Spain and Portugal.What they're really trying to do is buy time.We in the U.S. are doing everything to keep rates low on the monetary side;Europe has embraced austerity.We are trying to keep growth going.We shall see who wins.
Leadership is lacking,adds Andrew Economos,Head of Sovereign&Institutional Strategy,Asia ex-Japan at JP Morgan Asset Management.Greek politicians are setting themselves up for the April election.A deal is done.It's really a question of getting the three political parties in line.
We'll have this rolling crisis as we sweep through the periphery.Germany will guarantee the debt and China will take a stake.I think it means ample liquidity.Ultimately,it flows into Asian markets,Mr.Economos believes.
ConvergEx Group is a provider of mission-critical software and services to asset managers and financial intermediaries globally.Serving more than 4,000 institutional customers in 22 cities worldwide,their products and services span the investment life cycle.
JP Morgan Chase(JPM)
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