Outlook for Investment Markets
Investment markets globally have remained extremely jittery, plunging and recovering on a daily basis in response in particular to the twists and turns of the Eurozone debt crisis. The most likely scenario for world economic growth remains one of 'muddling through', periods of recovery punctuated by financial instabilities, although international sharemarkets are pricing in exceptionally bad outcomes, and could recover quickly should this worst-case scenario not eventuate. The outlook for New Zealand shares remains reasonably positive, despite the fact that the Canterbury rebuild looks set to be much slower than previously anticipated.
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