When Financial Markets Misread Politics

Indeed, the West has consistently misread Russia s intentions on Kosovo.

Last, but not least, the eurozone authorities misread the confidence factor.

In Lebanon, the Syrians have repeatedly misread the Bush administration s intentions.

China doubters in the West have misread the Chinese economy s vital signs once again.

From the first day, the media understood that they had badly misread the public mood.

Tragically, the signals from former Taliban in their southern Afghan stronghold of Kandahar were misread.

First, the eurozone authorities misread the real causes of the debt crisis, which stemmed mainly from a growing competitiveness gap between the core and periphery countries.

European fixed income markets rallied strongly as a result, only to reverse course days later when Trichet and his colleagues made it clear that the markets had misread him.

But, having deftly out maneuvered his opponents for three years, Zardari seems to have misread the current political environment, for Pakistan is not the same country in which his wife and father in law wielded power.

But, because Greece s creditors the International Monetary Fund and European governments misread the challenges facing the country, the rescue merely delayed the inevitable sovereign default and caused the Greek economy to contract sharply, magnifying the pain.

To minimize error propagation, bit pairs (dibits) are assigned to voltage levels according to a Gray code, as follows If the voltage is misread as an adjacent level, this causes only a 1 bit error in the decoded data.

European fixed income markets rallied strongly as a result, only to reverse course days later when Trichet and his colleagues made it clear that the markets had misread him. So there was unwelcome and unneeded market volatility because Trichet couldn t get the message out straight.