Fishing in frothy waters
Emerging-market bond and share prices have risen dramatically this year. How big a setback are this week's goings-on in Russia?
IN THE violent financial storms of October last year, when concerns about America's financial system were at their peak and shares were slumping amid fears about corporate misdeeds, unsustainable debts and economic growth, few expected shares to bounce back sharply. But bounce they have. America's S&P 500 index has climbed by 35% from its low on October 9th 2002. Stockmarkets in other developed countries have risen by a touch more.
This article appeared in the Finance & economics section of the print edition under the headline “Fishing in frothy waters”
From the November 1st 2003 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer