Natixis’ latest thoughts on macro-economic recovery and global forex markets

The latest round of Natixis blogs sees Patrick Artus in FTSE Global Markets explaining how both public and private de-leveraging must play out its course before genuine recovery is possible. This is likely to happen as late as 2015 in the US, 2017 in the UK and 2018 in Europe.

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Meanwhile, Nordine Naam offers his weekly update on global forex markets, pointing to renewed political risk in Italy – thanks to a Berlusconi-bounce in polls – and Spain, where the prime minister has become embroiled in corruption accusations.

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