A storm is brewing in financial markets
Liquidity may dry up as Fed stops bond buys; also, euro/dollar rate is likely to fall further
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AFTER a year in which world markets have sailed effortlessly through wars, invasions and geopolitical ferment, a storm of their own making may well be brewing. Investors have mostly held their nerve as headlines lurched from a new Cold War in eastern Europe to conflict and Western intervention in the Middle East, the threatened breakup of the United Kingdom and secessionist risks in Europe.
More prosaic "shocks" - a weather-related first-quarter slump in the United States, grinding deflationary angst in Europe and China's spluttering, unnerving slowdown - have largely been shrugged off too.
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