Evergreen Investments' Market Update
John Lynch, Chief Market Analyst from Evergreen Investments, recently provided his perspectives on the market, current economic environment and what might be in-store for the coming months.
"We continue to believe that the current period (fourth quarter of 2008 and the first quarter of 2009) will prove to be the worst part of the recession. The credit freeze following the collapse of Lehman Brothers last fall has begun to show signs of a thaw, as interbank lending rates have improved dramatically. Yet the real key will be the willingness of banks to lend to consumers and businesses in the coming months. It is our hope that the combination of the steep yield curve (enabling banks to borrow-short and lend-long on a profitable basis) and the policy response out of Washington (not off to a great start in 2009) will result in gradual improvement in economic activity as the year progresses."
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