Forecasts for 2010..Mark my Words....

Hard to know what there is to say that's new or fresh? Interest rates are staying low for a while, but ARE going to rise at some point..Deficits can be handled for a while, but ARE future sovereign debt problems just waiting to happen- at the very least yields have to rise. Austerity can be put off but IS
essential for long term recovery.... Westwood three putted the 72nd hole last year but IS going to win the Open. On the back of this short term calm, but scope for long term agitation, equities just marked time again last night, waiting for someone to tell them what they are supposed to do- and looking for the excuse to go better. Asia managed small rises despite renewed fears of China overheating and suffering meltdown- anyone remember the China Syndrome? Great movie! Anyway...
CDX and ITRX not moving much- although the HVOL index tightened- and not too much excitement from data today. Nothing due in the UK and jobless and trade balances in the US. New issues last night included $1.5bn 10yrs from GMAC and $2bn 10yr trups from Citigroup. The success of this deal will give comfort that banks can raise more capital from the markets when they need to- and a lot of them will this year! This could be a long drift into the weekend unless some news comes out to give us a push one way or another. Happy Thursday.