The good, the bad and ugly that awaits us all

HOPEFULLY 2012 will bring a greater sense of optimism and positivity than the best forgotten year just gone.

Although one cannot read too much into anything at this early stage given that the markets are still in holiday mode, the early days of the New Year have been characterised by a strange sense of calm internationally and lots of negative media headlines domestically.

As we approach the end of the first week of 2012 most international equity markets are in modest positive territory. This marks a welcome change from 2011, which was understandably a difficult year for some markets, but not all.