"Turkey needs to get some cash in the bank - RBS
Bne-RBS - 14.07.2010
Markets just don't seem to want to go anywhere fast at the moment, despite investors (or at least the ones I have been speaking to lately) generally appearing much more sanguine over global risks, and particularly those pertaining to the sovereign debt crisis in Europe.
Generally the consensus now seems to be that the worst case of a major sovereign default in Western Europe will be avoided (mixed views still on whether the end game in Greece will involve some form of restructuring, but China riding to the rescue of cup heroes Spain with news of 'SAFE' purchases of Spanish government bonds) but that in almost any scenario the outlook for European growth is pretty dismal, and this will support the lower for longer mantra, and with it bonds versus equities at least."
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