Axa Framlington's Mark Tinker believes the ongoing turmoil in world equities is due to weak credit m...
Axa Framlington's Mark Tinker believes the ongoing turmoil in world equities is due to weak credit markets and has almost nothing to do with the state of the US economy. The manager of the Global Opportunities Fund argues that changes in interest rates would impact financial markets rather than US consumers. Within a decade of 1991 some 75% of their mortgages were fixed for periods of between 15 and 30 years and so changes in rates have a “negligible effect” on US householders, according to Tinker. "The auditors and lawyers have moved into the US banking system," said Tinker. "They ha...
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