Global Weekly Watch: Risk-on?, but for how long?

Summary

“Risk-on�, but for how long? “Risk-on� has increased but uncertainties have not disappeared. Europe’s next step to restore confidence is leveraging the EFSF. ECB: Interest rates (still) on hold and time for new LTROs (up to one year or even longer). Decrease in risk aversion has reduced interventions in EM, but this could prove temporarily.

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