Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters
Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

The View by Nicholas Spiro

Beware the three elephants in the room in global markets

Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010

Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters
Beware the three elephants in the room in global market, says Nicholas Spiro: Italy’s ailing banking sector, coupled with the country’s huge public debt; the US’ rapidly deteriorating fiscal position; and emerging markets are no longer cheap, sitting on valuations at their most expensive level since 2010. Photo: Reuters
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