Although crucial Greece elections over the weekend will be a key catalyst to Eurozone's future, Gary Baker of BofA Merrill Lynch Global Research believes Spain and Italy have snowballed into bigger problem areas that will influence global markets.
The global risk has every chance to remain intact, says Gary Baker (BoFA Merril Lynch) given what the ECB, Fed and recently Bank of Japan have done for the economy.
In an interview to CNBC-TV18, Baker said that given the nature of crisis that world markets are facing, most people want to see this year out rather than think if there is another trade to be had. "We are seeing that in terms of fall in volumes," he said.
Gary Baker, head of European equity strategy at BofA Merrill Lynch Global Research feels 10-15% downside might be possible in the short-term, but the valuations still look supportive.
A large majority of global investors believe that Greece will default on its sovereign debt, with nearly three quarters of them expecting it by the end of next year's first quarter, a poll showed on Wednesday.
US growth expectations seemed to have stabilised, says Gary Baker, head of European equities strategy at BofA Merrill Lynch. However, he feels that Europe has chances of more material development. Baker indicated that 2012 will be a difficult year for markets in terms of growth.
In an interview on CNBC-TV18, Gary Baker, Head of European Equity Strategy at Bank of America Merrill Lynch gives his reading of the Eurozone situation.
In an interview to CNBC-TV18, Bofa Merrill Lynch Global Research's head of European equities strategy Gary Baker gave a global market outlook and how he sees India performing from hereon.
Global volatility has returned which saw the Dow Futures falling 220 points again. Gary Baker of Bank of America- Merrill Lynch talks to CNBC-TV18 about whether this is another 2008 like situation that the world is facing and what is the road ahead for global equity markets.