US will be seen as safe haven

ON THE US

Smith & Williamson's Tana Focke says there are plenty of buying opportunities following the recent sell off.

One can no longer look at the US in isolation, this market is driven by global macro concerns. The most worrisome of which is the crisis in Europe. The recent announcement from the ECB that they are now buying Italian debt is a positive but the scale of these purchases are not enough to contain what could be a significant risk to the global economy. This situation is very different from Lehman because countries have real assets and real revenues, unlike investment banks that rely on overnight funding, which is at the whim of the market. However, the ECB cannot allow Italian, or any perip...