Investors are still trying to make sense of the uncertainty, fear and turmoil.
For example, Greece’s debts are in the news practically every day.

We are still dealing with the opening act of this play.
The final chapter of the Greek drama has yet to be written.

It’s interesting that the accepted solution for Greece is to embrace austerity.
Just at a time when growth is what’s really required.

Look beyond Greece for the bigger main events.
Here are some to watch with your keen eye:

• France, soon be holding elections, would prefer not to deal with a Greek debt default.
• Sovereign debt borrowers, like Italy and Spain, have yet to seal their fates.
• Banks that loaned money to the sovereigns in better times need recapitalization.
• Cost of oil will hopefully hold below US $100 per barrel.
• If not, there will be fear of global growth shrinkage.

Plenty of deep-rooted, painful de-leveraging has yet to unfold.
More money has been borrowed than will be repaid.

Many EU sovereign bondholders are bracing for potential losses.
Our counsel for investors is to arrange income that has three vital attributes:

• Sound credit quality,
• Broad diversification, and
• Dependability.

Focus on larger, solid companies with healthy balance sheets.
Those able to pay ongoing dividends and bond interest.

Today’s markets are much about managing your “appetite for investment risks”.
Stay tuned and be nimble.

Talk soon,

Adrian