The World Bank's report on global growth has is concerned with two primary issues: 1) outstanding corporate debt that needs to be refinanced and 2) the overall decline in real global growth and demand.
Jump into energy? There is a play alive and well in the energy space on a relative value. Think about selling Exxon and buying Conoco Phillips. Also, the European integrators look interesting because of decent balance sheets and the hope that they may be paying dividends this year. Be cautious jumping into energy longs, but keep your eye on them.
Financials. Mark to market hearing on thursday will address whether acounting rules on asset valuation - especially toxic assets - should change to allow assets to reflect market value. Good time to look at a short term upside for these financials - but get out before Thursday. Nothing good in the short term will develop from these meetings. Very small chance they can produce something significant to make a short term change.
RIG and other drillers look good as a play in future increase in oil demand and production.
Bottom of oil. Opec compliance, reduced demand and
HBSC
Halliburton Oil prices
China - No financial risk
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