Monday, December 5, 2011
" All Europe all the time" - quote on the investment news focus
The quote was from Vince Reinhart the new chief domestic economist for Morgan Stanley.With all eyes on the finance ministers, the ECB, and EU presidents, there is little effort being placed on what is going on around the globe. The usual information transmission has been from the US to the rest of the world. Lead relationships both from the central bank and economic announcements came from the US. The ECB took their lead from the Fed. Equity prices often would reaction to US numbers. This has changed significantly with gap risk between the close and open in the US being more important than in the past. Work flow has to now include a greater European component.