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Investors wary of "slow panic" on growth after Cyprus rescue
World markets have reacted calmly to the twists and turns of Cyprus's financial rescue in the last fortnight but many investors fear the economic fallout is yet to come. They have sold European assets, rather than make a global dash for safety that could signal concerns about a euro breakup. Euro blue chip and bank equity prices, regional bank bonds and the euro exchange rate have all fallen sharply this week but Wall St stocks set a record closing high. Mutual fund data released by fund tracker EPFR on Friday showed that European equity, bond and money market funds all saw hefty redemptions this week even as ... (full story)