Monthly Archives:

July 2007

Tight global labour market suggests inflationary pressure will rise further

The global unemployment rate is plummeting. France’s unemployment rate fell for the 24th consecutive month in May, reaching a 25 year low; Italy’s unemployment rate dropped to an all time low in the first quarter of this year, while Spain’s unemployment rate has fallen from 21% a decade ago to 8.5%. Likewise, the Japanese and German jobless rates stand at 9 and 12 year lows respectively. The UK…

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Northern Rock not so solid any more – question from a client

The following question was sent to us from a client last week:

The recent profits warning from Northern Rock has clearly taken the equity market by surprise in the short term, though equally many people will regard it as a victory for common sense that sooner or later they had to pay the price of such an aggressive strategy. But where does this leave sentiment in the mortgage-backed securities …

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