Macroeconomics

The previous two weeks were full of excitement as far as the financial markets were concerned. The review period opened with a continuation of the slide that started in the previous two weeks (October 7-21) as prices hit new lows and analysts tried to outdo each other with their negative forecasts. But just when all hope was lost the situation began to turn. Indeed, last week, the markets positively rallied so that now, things are more settled than they have been for some time. However, we are nowhere near yet out of the woods as the banks, pension funds, insurers and private investors are all continuing to suffer severe losses.

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