Chief Economist

For the Chief Economist of Standard & Poor s, David Wyss what happens is quite clear: I believe that a bubble may be forming in some markets emerging actions, not only in Latin America, it is the same kind of pattern in Asia. If one looks at what is happening in the markets after deep collapses as those who suffered during the international financial crisis, will find normal that they recover with force as soon as they begin to appear on the horizon hopeful signs of recovery. This is what has happened in the global markets, but with added perceived an excess of optimism that is not justified in what is happening in the economies. World markets overflow of liquidity, which is coming to light after staying in shelter markets fearful were protected new replica of the crisis. We must recover lost time is the slogan that is fulfilling a strictly in markets.

The optimism of the markets seems uncontrolled: frankly I thought we were going to see a correction in September and October. We are half way through October and still nothing happened, she said surprised David Wyss. While enthusiasts are displayed markets, economies are still running great risks. Financial systems they are not still clean the toxic assets and there are still several entities that fall. The fiscal accounts will not close and public debt continues to rise in the developed world. Cooperation and coordination of policies to reduce global imbalances does not seem to be in the minds of rulers, who do not perceive the great risk that runs the dollar deepen his fall and the yen to give a bitter surprise. So, amid the euphoria an escalation in the price of oil by the weakness of the dollar and ongoing geopolitical tensions is not a possibility that you can discard and is clearly a threat to the continuity of this weak economic recovery.

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