Big Picture — December 2011

When the managing director of the IMF, Christine Lagarde, issues warnings like this: “There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating.” [Source] it is time to take stock of where we are […]

Gloomy global economic outlook

Volatility is making it difficult for fund managers to predict the future, and as a result they are trending towards pessimism. The focus is less on earnings growth and more on “balance sheet strength and sustainability”. At the same time, steel companies are still braced for falling prices as buyers delay orders because of nervous […]

Diverging metals prices

The price of gold is being forecast to pass $2,000 an ounce next year. And yet miners/manufacturers of industrial metals, such as iron and copper, are finding customers asking for shipments to be delayed. This is a “marked shift in industry sentiment from only six weeks ago, when most … groups painted a bullish outlook for commodities […]