Neptune's Dowey on macro headwinds facing investors

Manager says Greece's austerity and ‘bipolar' sentiment in US pose crucial headwinds.

A Greek default and fluctuating sentiment in US markets are among the major headwinds threatening investors, warned James Dowey, chief economist at Neptune. Greece’s enforced austerity measures have caused its economy to shrink, increasing the likelihood the country will renege on its commitments in the not too distant future, said Dowey.  “Without European policymakers facing this reality, this road points to a disorganised Greek default, risking maximal contagion via the European banking system and other teetering euro area sovereigns,” warned the economist. A change in direction...