All that Europe can't leave behind

Key highlights Growing concerns over contagion of sovereign debt in the European economies weighs on market sentiment. China continues to tighten monetary policy in order to slow growth to a sustainable level. Surprise downgrade to NZ's foreign currency sovereign credit rating outlook adds to market jitters.     Report prepared by: Christina Leung ASB Economist Phone: +64 9 369 4421 Fax: +64 9 302 0992