World markets had
their worst quarter since the height of the 2008 financial meltdown, as a
chronic credit crisis in the eurozone rattled investors. Anemic growth in the US economy is
another factor that dented investor confidence. What’s worse, there are still
no signs of hope as national leaders and
policymakers continue to grapple with evolving macro-economic problems.
The start is
likely to be a bad one due to a steep fall across ‘western’ markets. Asian
markets trading this morning have all taken a beating. A spate of disappointing
domestic economic statistics will only add to the list of global issues. The
Centre’s fiscal situation is in a mess. The current account deficit has swelled
and the external debt is also increasing. Inflation of course is the enemy
no.1.
The near-term
prospects don’t appear bright amid mounting worries that Greece will
default sooner or later. The ECB’s policy meet this week will be keenly
followed. US
jobs data will be another key data to keep a close watch.
