2010 worries vs 2011 worries and the market is even higher

From Rosie:

TABLE 1: EVENT RISK – 2011 VERSUS 2010

2010                                                 2011

1. Europe                                      1. Middle East/North Africa

2. End of QE1?                            2. Japan

3. Midterm elections                 3. Europe

4. Bush tax cuts                           4. Food & fuel inflation

5. Policy tightening in EM (and ECB policy mistake?)

6. End of QE2?

7. U.S. debt ceiling

8. State governments versus public sector unions

9. Federal/Ontario elections

10.Payroll tax cuts/bonus depreciation allowance (ended                                                                on December 31)

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