PAM Monthly Global Outlook - March 2010

Greece comes AcropolisAfter a treacherous opening to the year for risk assets, markets stabilised last month. Nonetheless, as the Greek debt drama approaches a climax, uncertainty remains high. Some have once again begun to question the fundamental viability of the euro, which weakened further last month. Meanwhile, new economic data released over the month paint a mixed picture, and the threat of a renewed downturn in US house prices remains.