Monday, 26 June 2017

BIS sees brighter future for global economy but financial stress “less appreciated”

The Bank for International Settlements released its annual report on Sunday.

The BIS struck a relatively optimistic note in its report.

“The facts paint a brighter future,” the report said of the global economy. “There are clear signs that growth has gathered momentum.”

However, the report also said that “less appreciated, serious financial stress could materialise as financial cycles mature if their contraction phase were to turn into a more serious bust”.

That is a risk that you cannot criticise Marc Faber of not appreciating.

Faber, the editor of “The Gloom, Boom & Doom Report”, told CNBC last week that the bull market “will end very badly, extremely badly”.

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