A market crash may be more likely than at any time in a generation.
Markets know what has happened each time the yield curve has turned negative. The idea of a negative curve without a a recession would take some getting used to.
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Italy’s economy is verging on bankrupt and its election results have dealt a hammer blow to the prospects of fixing things. The best option, financially at least, may be to put someone else at the helm.
South Africa’s Finance Minister Pravin Gordhan is fighting to stave off a downgrade by ratings agencies.
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South Africa has made some progress in fixing problems identified by ratings agencies. But there are a number of outstanding issues that might mean the country is given ‘junk’ status.