March 27, 2013 -- Global Perspectives for April 2013
The past week has highlighted the banking crisis in Cyprus and an agreement on how to handle to situation. This crisis is slowly drawing to a close and the banks are expected to be opened tomorrow but with strict controls on money movement. This week and maybe next might still bring in a few unexpected events but, overall seems to be on a course to be mended. During this period, this impacted the European union more than the US and this shows from the perspective graphs.
One other item that deserves mention is the "child who would be king" in North Korea. This is a situation that is still unfolding and while there are many words of bravado coming from the child king, it's hard to identify whether these will turn into actual acts of bravado.
With Cyprus behind us and the "child king" hopefully just resorting to verbal threats rather an actual acts, the middle of April moving forward may see an overall nice movement up of global economies and this will likely continue into summer.
Disclosure as of 3/27/2013 - VXX as a hedge for the next week or so.
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