Barclays Wealth cautions on more turbulence ahead despite Mario Draghi’s fighting words
Barclays Wealth called “particularly powerful” Mario Draghi’s recent words the European Central Bank would do “whatever it takes” to save the euro, but the UK discretionary managers add economic data this week “continued to paint a fairly uninspiring picture of the global economy”.
William Hobbs, Barclays Wealth head of equity strategy, says much also comes down to the less tangible issue of ‘confidence’
“This is not to underplay the threat that we face at the moment, confidence plays a huge part in almost every single transaction in an economy. The major actors in the European drama still have it in their power to restore confidence in the euro area project, just as US politicians have it in their power to restore faith in their political process.”
Hobbs, and the Barclays Wealth team, elaborate their views, in the accompanying latest research report from the unit.
You can find it here: [asset_library_tag 5682,Barclays Wealth research report]