The global reflation rally appears to be broadening into something like
a global recovery rally. Fears of dollar inflation are ebbing as rising
US joblessness (but at a slower pace) indicates the American economy is
recovering but remains more anemic than many believed. The dollar is
paradoxically rising as a result. Even Europe appears to be enjoying
improving business confidence. Flows into emerging Asia are therefore slowing as
investors spread out into other markets. Overall, though,
risk appetite appears to still be on the rise.
Landmark Advisory has produced a
report on the nation's property market that points to further declines in prices. Rents are holding firm and in places rising, it said, as owners balk at falling offers. But weak demand and incoming supply augur ill for hold-outs. Some owners are being forced to stop the search for tenants because they are behind on mortgage payments.
One business that is booming is litigation, as tough economic times leads to a
growing number of disputes. Cue the lawyers.
