GREG FLEMING COMMENT

摘要

Approximately 12 months after the financial crisis reached its apex - or nadir depending on your perspective - the best news in the global economy is the fundamentally better condition of the markets. On the whole, it is clear that the crisis of confidence in the financial markets has been addressed.rnThe palpable fear that stalked the system following the Chapter 11 bankruptcy filing of Lehman Brothers created, for all intents and purposes, a liquidity-run across the funding markets. Stung by the losses incurred as a result of the Lehman bankruptcy and the uncertainty of where the risk might manifest itself next, creditors throughout the funding spectrum - the repo markets, term lending, prime brokerage - pulled back from financial projects of all kinds and the wholesale funding credit wheel ground to a halt.