Word: governmentalize
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Meanwhile, Japan's central bank has finally conceded that deflation is a critical problem and signaled that Japanese interest rates will remain at historically low levels for at least the balance of 2010 as the government prepares to devalue its currency.
But if the euro and yen are this year's dollar, what's on the flip side of the smart carry trade for 2010? Last year the Brazilian real was a currency on fire, appreciating 35% on interest rates that started 2009 at an unsustainable 13.75%. It was a situation...
Colombia and Chile experienced similar, if less dramatic, run-ups in their currencies in 2009, and Latin America remains the region to watch in 2010. Greg Anderson, director of currency strategy at Société Générale Global Markets in New York likes Mexico best, noting...
As Toyota dithered, it lost hold of the wheel. Lawyers and politicians took charge. In Washington, Toyota executives are poised to replace bankers as populist targets before a congressional hearing. "Toyota drivers have gone from being customers of the company to being wards of the government," says Jim Cain, senior...
Papandreou's government is walking a difficult line. It's been trying to convince its European partners - as well as the global markets - that it is taking serious steps to cut state spending and tackle its deficit without causing civil unrest at home. But the choice may soon be out...