hsbc obama victory boosts mena stability

Added 7th November 2012

Today’s election victory for US Presidential incumbent Barack Obama is likely to mean greater financial stability for the MENA region in the short and long term, according to HSBC Global Asset Management’s chief business strategist Peter Marber.

hsbc obama victory boosts mena stability

Speaking at International Adviser’s Gulf Expert Investor Forum in Dubai, Marber said his initial reaction to the news, and possibly the market’s reaction, was relief that Ben Bernanke, chairman of the Federal Reserve, is also much more likely to stay on and there will therefore be a more conducive environment for financial markets.

“Bernanke staying is really good for the financial markets because he really believes in providing liquidity and keeping interest rates down even for a prolonged period of time and that is only good for financial assets,” said Marber.

“Obama will of course have the tough task of dealing with the fiscal cliff, which is the first thing he will need to do, but if he can get the fiscal cliff cleared up the markets will respond well and America can begin to rebuild its global reputation.”

Looking specifically at the MENA region, Marber said a continuing “grinding up” of the US economy, and a fading of the European sovereign debt crisis, will support MENA, given its correlation to energy markets, while the region continues its diversification away from natural resources.
 

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

International Adviser is aimed at global intermediaries who advise their HNW clients on International fund, life and banking products and tax efficient solutions to their cross-border needs

Features

Why you should care about the German elections

Why you should care about the German elections...

You may be forgiven for not staying up late this Sunday to watch the final results of Germany’s parliamentary elections come in. While chancellor Merkel is sure to win, the scale of her victory is likely...

Analysis

Profiles

Directories

Canada Life International Limited
Canada Life International...

Canada Life International Canada Life House,...

Tweets

Events

IA Best Practice Adviser Awards Europe 2017
IA Best Practice Adviser Awards Europe 2017

Thursday 28 September
The Waldorf Hilton, London

IA Future Advisory Forum Europe 2017
IA Future Advisory Forum Europe 2017

Thursday 28 September
The Waldorf Hilton, London

IA Future Advisory Forum Cape Town 2017
IA Future Advisory Forum Cape Town 2017

Thursday 5 October
The Vineyard Hotel, Cape Town

IA Best Practice Adviser Awards South Africa 2017
IA Best Practice Adviser Awards South Africa 2017

Thursday 5 October
The Vineyard Hotel, Cape Town

Sponsored Content

Investment Strategy

OTHER STORIES FROM LAST WORD...