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Talk from the Trenches:.......>

GLOBAL MARKET/OPINION
GLOBAL MARKET/OPINION: Talk from the Trenches: Global Growth - Are the Wheels
Coming Off?
Early Warning Signals
- Our discussions with customers this week have been focused around potential
early warning signals that may point to a deterioration in the global risk
environment. Several of these discussions were inspired by the MNI Markets Teams
recent research on the cross-currency basis spread. We've added the USD basis to
our risk watch list.
- This discussion has led to another question - Given the focus on financial
market risks, are markets underpricing macroeconomic risks? Our discussions
quickly turned to the global growth outlook and the auto sector.
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