The first few days of the week have been characterized by a fresh wave of risk aversion as uncertainty over the global economic outlook took its toll on stock markets and investors favored safe-haven assets such as government bonds, the US dollar and Japanese yen. However, yesterday brought some relief for risky assets - now in corrective mode - and it remains to be seen whether the S&P 500 Index will close down for a fourth consecutive week as the US earnings season gets on the way.
The usual debate on the outlook for the economy and financial markets dominated the video channels over the past few days, but interesting snippets on the IMF's improved forecast for the global economy, the viability of the Public-Private Investment Program (PPIP), the US dollar's role as reserve currency, the prospects for the earnings-reporting season and President Obama's visit to Russia were also featured in the clips.
This week's somewhat shorter-than-usual edition of Video-o-rama includes interviews with the likes of Oliver Blanchard, Jim Bianco, Puru Saxena, Roger Altman, Peter Peterson, Wilbur Ross, Allen Sinia, Jeff Saut and Boone Pickens.
The compilation starts off with a contribution on risk aversion by John Authers, the Financial Times's investment editor, and concludes with a Charlie Rose discussion on Barack Obama's Russian rendezvous.
John Authers (Financial Times): Risk aversion makes comeback
Commodities and currency markets are experiencing a new wave of risk aversion, driven in part by a swing from expectations of inflation to deflation fears, says FT's John Authers.
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Source: John Authers, Financial Times, July 8, 2009.
Bloomberg: Blanchard says recession lingers, sees weak recovery
Olivier Blanchard, chief economist for the International Monetary Fund, talks with Bloomberg's Peter Cook about the prospects for a global economic recovery. The IMF said in a report today [Wednesday] that the world economy will expand 2.5% in 2010, stronger than its 1.9% growth forecast in April. Blanchard also discusses governments' fiscal stimulus plans and exit strategies for emergency programs.
Source: Bloomberg, July 8, 2009.
CNBC: G8 set to move markets?
This week's G8 summit in Italy is going to be more philosophical than market moving, Jim Bianco, president of Bianco Research, told CNBC on Wednesday. Bianco considers the possibility of a second US stimulus package.
Source: CNBC, July 8, 2009.
MSNBC: Stimulus a success - or spluttering?
As lawmakers and analysts debate the effectiveness of President Barack Obama's economic recovery plan, MSNBC's Dylan Ratigan and a panel of guests offer their impressions.
Source: MSNBC, July 9, 2009.
Charlie Rose: A conversation with Roger Altman, former United States Deputy Treasury Secretary
Source: Charlie Rose, July 8, 2009.
CNBC: Saxena - no recovery for at least 12 months
An economic recovery will not be seen for at least 12 months, says Puru Saxena, money manager and CEO of Puru Saxena Wealth Management. He tells CNBC's Amanda Drury why the rally we've seen is based on the wrong premises.
Source: CNBC, July 7, 2009.