CNBC Interview: Greece and Hong Kong
Summary
Today we draw parallels between both places: in Greece, the unions are rocking the boat; in Hong Kong, it is the "democrats" - who cannot even account for their own expense accounts in their unending quest for 'transparency"!
We then provide you our portfolio strategies for the first half of 2010.
Topics Covered
- Greece
- the Euro
- the dollar
- portfolio strategies for 1H10
- concerns about Hong Kong
Background
Markets outlook for Asia Pacific -- given the woes in Europe, what's
your assessment at this point?
-- Where are the safe havens?
· Crazily, EU debt: we know that the Euro will be protected at all costs
· The “worry” havens are the long end of the yield curve for the West and the short end of the yield curve for the East
- the last time, you liked short-dated bonds, consumer staples, US dollar and yen,
· Yes, am sticking with this: these are still the safe havens
-- your investment strategies for H1
· Stay vigilant regarding the short end of the yield curve for the East: here, excluding Japan, tightening definitely is on the agenda
· In the West, keep an eye out for the long end of the yield curve: do not buy long-dated paper as its price will fluctuate strongly in relation to worries about the sovereign debt of the so-called developed (debted-out) world
-- anything else to add?
· Am very concerned about political undulations in Hong Kong “rocking the boat” with Beijing.
· Just wish that both sides would talk and de-fuse this somewhat childish whim of an early referendum: it only can irk Beijing even more
