This year as Lula's protégée, Dilma Rousseff, dominated the election campaign, the continuation of market-pleasing macroeconomic policy was widely taken for granted.
A continuation of the market rout would have raised the interest rates that Spain and the others had to pay to issue new bonds, aggravating their already grave fiscal problems.
A continuation of the market rout would have raised the interest rates that Spain and other countries had to pay to sell new bonds, aggravating their already grave fiscal problems.
For instance, even though Forrester Research predicted last week that a continuation of current market conditions would "drive most of today's dot-com retailers out of business by 2001," a report released yesterday by the Boston Consulting Group forecast that revenue from online retailing this year would grow 85percentt from 1999, to more than $61 billion.
Though all the main indexes posted gains yesterday, Mr. Fries noted that there still appeared to be a continuation of the market's division between technology and telecommunications stocks on the one hand and, on the other hand, cyclical stocks and less glamorous sectors that fell out of favor last year.
"Based on a continuation of current market conditions, this growth strategy gives the group confidence in delivering greater volumes and increased profits," he said.
Lot results and fiscal reports from the leading auction houses in the first half of 2011 showed a promising continuation of art market recovery and renewed investor confidence.
"The small captive's growth is a natural continuation of the captive market's expanding to the mid market from one dominated by the Fortune 500 companies," Clete Thompson, vice president for Capstone, said in a statement.
"If you don't have a regime of exchange trading and clearing you will have money seeping into the continuation of a dark market," she added.
