Financial markets take one step back, two steps forward
August 6, 2012
Financial markets take one step back, two steps forward
August 2, 2012
The papers are all about slowing global growth today, featuring articles that talk about how the U.S. has gone from grow-grow in the first quarter to slow-grow in the second: “Wary Fed Is Poised to Act” on page A1 of the Wall Street Journal (WSJ), “Fed hints at fresh action on economy” on page 1 of the Financial Times (FT), and “Fed Defers New Action But Growth Has Slowed” on page B1 of the New York Times (NYT).
Other countries and areas have been hit as well: the NYT has “Local Governments Face Fiscal Peril, State Comptroller Warns” on page A15, the FT has “Asian output hit by global headwinds” on page 1 and “Weakness in Europe and Asia dents US revenues” on page 13, and the WSJ has “Factories Lose Steam As Global Fears Rise” on page A2. Even hedge funds are shrinking, as seen in “A Hedge Fund Too Big To Profit” on page B1 of the NYT and “Bacon to pay investors $2bn” on page 13 of the FT, which talk about the voluntary downsizing of a large and famous hedge fund.
