Wall Street is heading for a different kind of crash
Article Abstract:
The bull market in stocks from 1995 to 1997 has left stock prices expensive, but lower interest rates could help justify stock valuations. Low Japanese bond yields have tended to depress bond yields world wide, while technological change and increases in world trade mean that inflation is low. Fiscal policyis tighter in Europe and the US. The markets have taken low inflation into account, but there could be problems with growth expectation, and this could have an especially sharp impact on stock prices if bond yields also rise in real terms.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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And the 1998 winner is ... Costa Rica!
Article Abstract:
The Costa Rican stock exchange outperformed all other stock exchanges in 1998, rising in value by almost 90%. Strong performance was also seen by Easdaq, the new European market for high-technology stocks, which gained almost 80%. Smaller emerging equity markets have benefited from the fact that investors have been obliged to seek new sources of high returns following the slump on equity markets in the more well-known emerging economies. The smaller markets have also been boosted by their relative illiquidity.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Beware Japan's phantom recovery
Article Abstract:
The Nikkei has seen significant growth so far in 1999, and foreign investors are now beginning to look seriously at increasing their exposure to Japan. However, it is important to remember that positive economic indicators in Japan are largely the result of extensive government public works spending in 1998. It is unlikely that there will be a dramatic improvement in Japan's fortunes in the near future, and it is even possible that the economy could decline even further.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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