During his 18 years as an economist at the World Bank he concentrated on the Middle East and North Africa. He later headed two Cairo-based think-tanks, the Egyptian Center for Economic Studies and the Economic Research Forum. MARKET ECONOMICS In a July 2011 ERF paper, Galal said competitive markets should be allowed to allocate resources, improve production and encourage innovation, but should be regulated to prevent anti-competitive behavior and promote a more egalitarian society. "Markets do not function in a vacuum and generally do not produce the best outcomes for society on their own," he wrote.
July 2013, European Leveraged Finance Market Analysis; Video, Charts
Issuers are looking towards the US market for liquidity and best execution, be that either through bonds or loans. The details: The European leveraged finance primary and secondary markets were buffeted by volatility. This follows comments made by the Fed chairman for tapering off support for quantative easing. Loan issuance was 7.6 billion in June 2013, while high yield issuance was just 2.9 billion. According to JP Morgan HY research: estimated outflows out of European HY funds was almost 1.5 billion for June versus inflows of 3.8 billion till the end of May.