Wednesday, June 01, 2005

Floating dollars

The Prudent Investor - seeing too many bubbles: ECB and Bank of Canada warn of global imbalances, pressure on dollar
An underestimation of risk has pushed the prices of bonds and some other assets beyond their intrinsic value, it said further, adding that "some euro-area financial institutions, including banks, would likely endure losses - at least in the short term - from any upturn in long-term interest rates."