Global stocks were mostly lower on Monday, sticking close to one-month lows as news of CIT Group finally filed for bankruptcy underscored the continuing fragility of parts of the financial sector. Experts told CNBC safe-haven trading is back — for now.
Risk Aversion Returns
The safe-haven trade is back temporarily, believes Philip Wee, senior currency economist at DBS Bank. He shed light on what is happening in the FX market.
Credit Supply Still Tight
Confidence in the U.S. economy is still low, says Mark Kiesel, global head of corporate bond portfolio management at PIMCO, as weak unemployment is still coupled with tight credit. He shares his bearish outlook.
Oil Price No Longer Based on Fundamentals
Oil has become part of the commodity plays, as prices are no longer based on oil fundamentals, says Ed Morse, head of economic research at LCM Commodities.
Shape of the Recovery
The world recovery will take place in different shapes, says Greg Bundy, vice chairman of AIMS Financial Group. He tells CNBC that Asia will be the main driver of growth.
Upbeat on Asia
Kerry Duce, equity strategist at BBY tells CNBC why the sentiment on Asia is positive.