Bund, Tbond e la grossa coda gialla......(V.M. 77 anni)
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(Adds further Rato comments)
MADRID, March 1 (Reuters) - Falls on global stock markets this week had more to do with people's view of risk than economic fundamentals and the world is still in a "very benign scenario", IMF Managing Director Rodrigo Rato said on Thursday.
"World growth is clear this year and at a healthy rate of around 5 percent," Rato told reporters on the sidelines of a conference. "We believe that growth right now is sustained.
"The correction we saw in the last two days was not so much to do with fundamentals but appraisals of risks and it shows once again that we live in a very benign scenario," he said.
Stock markets fell heavily on Tuesday and dropped further on Wednesday before picking up. They were mixed on Thursday.
"Downside risks do exist and risk appraisal can change as we saw last spring. Volatility can be very quick and very spread in geographical terms ... It's important that investors keep a close eye to try to avoid too much complacency," Rato said.
One particular worry has been the carry trade, in which investors borrow in yen or other low-yield currencies to invest in higher-return assets, a practice regarded as compounding yen weakness.
"I don't think they (carry trades) are a danger in the sense that they reflect investors' analysis of opportunities in the market," Rato said, warning that downside risks existed and "appear once in a while".
Rato also said the IMF shared the view expressed by Federal Reserve Chairman Ben Bernanke on Wednesday, when he said the U.S. economy was set to grow moderately.
© Reuters 2007. All Rights Reserved.
MADRID, March 1 (Reuters) - Falls on global stock markets this week had more to do with people's view of risk than economic fundamentals and the world is still in a "very benign scenario", IMF Managing Director Rodrigo Rato said on Thursday.
"World growth is clear this year and at a healthy rate of around 5 percent," Rato told reporters on the sidelines of a conference. "We believe that growth right now is sustained.
"The correction we saw in the last two days was not so much to do with fundamentals but appraisals of risks and it shows once again that we live in a very benign scenario," he said.
Stock markets fell heavily on Tuesday and dropped further on Wednesday before picking up. They were mixed on Thursday.
"Downside risks do exist and risk appraisal can change as we saw last spring. Volatility can be very quick and very spread in geographical terms ... It's important that investors keep a close eye to try to avoid too much complacency," Rato said.
One particular worry has been the carry trade, in which investors borrow in yen or other low-yield currencies to invest in higher-return assets, a practice regarded as compounding yen weakness.
"I don't think they (carry trades) are a danger in the sense that they reflect investors' analysis of opportunities in the market," Rato said, warning that downside risks existed and "appear once in a while".
Rato also said the IMF shared the view expressed by Federal Reserve Chairman Ben Bernanke on Wednesday, when he said the U.S. economy was set to grow moderately.
© Reuters 2007. All Rights Reserved.
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