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Silence is golden

Weekly investor research

28 April 2014

Despite supporting sanctions against Russia the EU has adopted a relatively low profile on the Ukraine question compared to the US. This is deliberate, understandable, tactical, and significant, in our view. We explain why we believe the current tensions between Russia and the US will eventually give way to a diplomatic solution led by the EU. Tensions return in the Middle East. Korea grows more than expected. We see signs of behind-the-scenes talks between the government and the opposition in Thailand. Hungary takes measures to aid liquidity in local markets. Mexico finally moves onto secondary legislation for recently passed reforms. Turkey’s central bank holds the line as the government seeks to boost the credit-led expansion with government guarantees for major infrastructure projects. China also pushes infrastructure investments accompanied by easier credit for the rural sector. Poland announces that its 2014 financing needs have mostly been met.

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