BIS Quarterly Review, June 2006

The Bank for International Settlements published its June 2006 Quarterly Review on Monday 12 June. The report said concern about the pace of recent share market gains has prompted investors to shift away from risky assets and to switch to highly rated instruments such as government bonds.

"Rather than a reassessment of fundaments, the drop in the price of risky assets seems to have reflected primarily a higher risk aversion among market participants," it said.

"While improving fundamentals have

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