credit-suisse-asia-debt-boss-looks-for-recovery

Credit Suisse Asia debt boss looks for recovery

Derek Armstrong, managing director of Credit Suisse in the investment banking division, and head of the debt financing group in Asia, speaks to FinanceAsia about the crisis in credit markets and the potential for recovery.
August 20, 2008
ôThe key is volatility and uncertaintyö, says Derek Armstrong, a 15-year veteran of debt capital markets who has spent most of his career at Credit Suisse. ôIn these conditions the market is unstable and investors nervous. There needs to be a clear outlook both for corporate earnings and macroeconomic trends, in particular inflation and recessionary tendencies.

The difference between now and the Asian crisis in 1997 and the dot-com implosion in 2001, he points out, is that this time the crisis is far more broadly felt there is a confluence of factors, notably inflationary pressures, falling consumer spending and rising unemployment in the US, and the fear that the mortgage problem will spread to...
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