Chinese vice premier Liu He heads to Washington this week and Fed is expected to hold rates steady * Pound falls ahead of Brexit vote 12.09pm GMT AMUNDI, EUROPE’S LARGEST FUND MANAGER WITH €1.45 TRILLION OF ASSETS UNDER MANAGEMENT, BELIEVES THAT THE WORLD ECONOMY CAN AVOID A RECESSION. NO GLOBAL RECESSION IN STORE: An excess of pessimism naturally results in a decline in the financial markets and renewed volatility. Based on our calculations, market participants priced in twice the slowdown risk that economic fundamentals justified. The market went too far in December, pricing in a recession, and while we think risks are skewed to the downside, we have a more balanced view. Except in the case of an extreme shock, nothing leads us to bet on a recession in Europe or the United States for the next 18-24 months. We are more inclined towards convergence towards potential growth, with a second half of the year that is more favourable than the first. 11.48am GMT Greece is preparing to issue a new five-year bond – its first attempt to tap financial markets since the country emerged from its third international bailout programme since 2010 last August, Reuters is reporting. The bond issue will be launched “in the near future, subject to market conditions,” the Greek authorities said in a bourse filing. Continue reading...
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