24 Oct 2008 Is this the Bottom?
Posted at 16:35h in The Friday BriefEveryone is wondering if there is a bottom? Markets around the world tumbled yesterday on the same fears driving our markets down. How badly will a global recession hurt corporate profits? As investors sell on earnings fears, they exacerbate the fragile stability of the credit markets – a self-perpetuating spiral. Every drop in stock prices reduces further the assets of banks and corporations, suggesting that an increasing number of them will have trouble paying their debts.