Risk South Africa Rankings 2010
Neck and neck
Enough has occurred over the past 12 months to make clear the crisis is far from over. Back in May, when the eurozone debt crisis was at its peak, the default of a European country seemed a distinct possibility, causing stocks to plunge and credit spreads to soar. The flash crash in the US on May 6 only served to heighten the problems. Volatility and skew surged to recent highs, while correlation across asset classes jumped to unprecedented levels.
Banks in both the US and Europe reported a sharp
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