Bill Blain, Strategist for Mint Partners, joined Nick Batsford and Zak Mir on the Tip TV Finance Show to discuss the situation concerning the banks, and views on the global market.
What next in the global economy?
Blain outlined the US non-farm payroll number which reassured people that chances of a Fed interest hikes are rising, but with 5 weeks before the December deadline, there is still possibilities for a shock coming from China, Portugal or Greece. In terms of Japan, he added that the stock market is doing well, with Yen at lower levels, good corporate numbers and greater consumer spending.
European banks in trouble
Blain noted that US banks have been lending, meanwhile, European banks haven’t begun de-leveraging yet, so he expressed worrying times ahead. Aside from UK banks, he highlighted German, Italian and Austrian banks as the ones you need to be worried about.
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