JP Morgan Asset Management

What the package has done is help to create a fire-break to avoid the spread of contagion throughout the eurozone.

While the markets feel risky, the perceived risk has not been matched by a spike in market levels of implied volatility

The credit default swap market is pricing in a 65% probability of a default within the next five years.

One of the key factors driving the relentless move up in equity markets has been the massive surge in liquidity supplied by central banks. One of the biggest risks in the second quarter is whether the liquidity tailwind turns into a headwind for markets

There are no clear answers, given the fluidity of the situation and uncertainty over whether violence will spread further...