HSBC: global economy is looking "VILE"

Fredrik Nerbrand, head of global strategy at the bank, asserted that the so-called 'Goldilocks' scenario - an era of 'not too hot' and 'not too cold' growth with well-behaved inflation - has come to an end. "In her place, a gloomier era is emerging with the three bears of inflation, recession and regulation," he said. The bank has retained its bearish stance on Europe - Nerbrand noted that emerging markets' prospects were better, but that they were still exposed to inflation concerns and partially reliant on G7 growth. Those that are better protected from inflation are favoured, pa...