Euro on the mend

- Overview: Euro on the mend "The euro is recovering against the dollar. The former mirrors the EMU which is a dynamic and well balanced economy. The latter suffers from the US economic slowdown. Nonetheless the EU single currency has still some weak points."
- US: Second quarter flow of funds accounts "Household debt once again declined markedly in the second quarter, whilst non-financial companies’ debt remained stable. The value of assets held by households declined, reflecting a correction in financial markets. Profits of non-financial companies grew further and reached their highest level since 2007. Public sector debt continued to rise at a rapid rate, driven by the federal component."
- Japan: Second quarter flow of funds accounts "In Q2 2010, strong overseas demand and very accommodative policies resulted in a widening of the financial deficits of the rest of the world and the government. The appreciation of the yen has led to an increase in overseas investment. In the coming quarters, the government’s financial balance is expected to improve gradually, while the financial surplus of the private sector might decline modestly."

BNPParibas Eco Week 20100924

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