JULY 2010
   
 
Europe Is Not the World

With the markets' movements in recent weeks driven almost entirely by news coming out of Europe it would seem that the European outlook must be central to the prospects for global economic and profit growth. However, evidence to the contrary was abundant mid-June as the stock, bond, and commodity markets posted a gain despite the ongoing growth and solvency risks among some European nations.

Recent economic and company reports reaffirm strong growth in Asia and solid growth here in the United States. This data helped to ease investor fears that a weak outlook for Europe spells the end of global economic and profit growth. Recent data included:

  • the largest rise in China's exports in six years reported for May, bolstering confidence that global demand... MORE
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