Friday, May 7, 2010

Thoughts on the Market from Merrill Lynch's Michael Hartnett

This just in from Merrill Lynch about the sell-off yesterday. The piece is called "While Athen Burns..." - Head Strategist Michael Hartnett

"Drivers of the sell-off: earnings, interest rates/liquidity and positioning. China
growth fears and European credit contagion & deflation are the key macro drivers."

"Global equities are off over 10% from their April 15th highs. Three reasons why:
earnings, interest rates/liquidity and positioning."

"New lessons
�� The excess liquidity phase of the bull market is coming to an end
�� European deflation a huge risk
�� Market is now differentiating between creditors & debtors; companies with
ambitious funding schedules may be penalized.
�� Companies are safer than countries
�� Best of breed stocks to outperform"

10 comments:

Finance Dissertation Help said...

Whenever i see the post like your's i feel that there are still helpful people who share information for the help of others, it must be helpful for other's. thanx and good job.

Finance Dissertation Proposal

Jacki Zehner said...

You just made my day... thank you

History Dissertation topics said...

it's good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research.

Linen shirts for men said...

I was surprised, also like. And the website, make the person feels very comfortable,
you pay a lot of time on this web site is too great. Continue refueling.

SEO said...

Wow, this is pretty interesting. Inspiring, as well. Thanks for sharing such inspiring experience with us. Great blog, congrats.!
lehenga sarees online

electrical control panel suppliers said...

it's good to see this information in your post, i was looking the same but there was not any proper resource, thanx now i have the link which i was looking for my research.

electrical control panels said...

Whenever i see the post like your's i feel that there are still helpful people who share information for the help of others, it must be helpful for other's. thanx and good job.

SEO said...

Yes, thank for the details a million! Have to discover anybody organizing Tea Party. I wants to participate in organizing.
saree blouse

SEO said...

I found your weblog the usage of msn. That is an extremely well written article.I'll make sure to bookmark it and return to learn more of your helpful information
web design baroda

SEO said...

Many institutions limit access to their online information. Making this information available will be an asset to all.
electrical control panel manufacturers