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Analysts believe this week European and American debt crises deepen, global capital market dismal, pessimism spread, macroeconomic factors leading future investments or topic earlier this week, Moody's warned France at present AAA sovereign credit rating may be affected; United States Red reduction agreement negotiations break down, Germany blocked auction Treasury bonds, economic data show euroWeak economic growth, United States-than-expected third-quarter GDP data. Switzerland Credit Bank research report noted that due to the current debt crisis spreading to larger economies of trends, the euro has reached "final crisis", Germany's Central Bank released monthly, 2012 Germany growth forecast lowered to 0.5% per cent, and warned that ifSerious deterioration of the fruit of Europe's sovereign debt crisis, did not rule out its economy to "significantly weaker" possibilities. 　　Raised investors ' panic in Europe's debt crisis, stock markets in Europe and America the old republic power leveling, and lead to a global commodity futures market turmoil. Analysts believe that Europe's debt crisis could trigger a global recession, global financial markets has been to the brink of disaster, the euroNegative frequency swtor power leveling, high growing pessimism, fate and the future of the eurozone for some time the prospects for world stock markets, is likely to depend on whether Europe can reach a temporary agreement in the near future, win time for finding solution of the debt crisis. Europe debt crisis intensified for the moment, reached the Summit of EU and eurozone sovereign debt crisisPackage agreement, does not seem to play a substantive role in stabilizing the financial markets. European debt crisis to the impact of the growing global financial markets, but also seriously hindered the pace of economic recovery in Europe, and by the European debt crisis a domino effect caused by expanded bigger and bigger, showing trend of spreading to the eurozone core countries. France existing AAA ratings downgrade may, GermanyFailure of the 23rd issue of government bonds. 　　As Europe's leading economic powers Germany thermal holds the good assets of long-term government bonds has been a capital market, which suffered indifference reflected investors ' pessimistic Outlook for the eurozone economy. Fitch Ratings on Thursday announced a Portugal sovereign rating to junk level, and given a negative Outlook. In addition, the 10-year Italy national debtYields rose again Thursday to more than 7%; Spain bond yields continue to rise over the same period. 　　While Germany and France in the European Central Bank come to the rescue as well as the issuance of euro-bonds remain large differences on the issue. Recent debt crisis did not concern the United States began to emerge. On November 21, the United States Congress announced that failed to reach agreement on a reduction at Chek Lap Kok. Moody's said, taking into account theTo the United States further reduce the deficit, reversing the upward trend of debt for some time was needed, therefore maintaining United States "negative" ratings Outlook unchanged. Analysts believe that if both parties in Congress has been unable to reach agreement, means the United States will begin in 2013 deficit reduction mechanism automatically, and this large extent affected the United States Defense of people's livelihood, and the United States economic recovery have far-reaching implicationsEffect. 　　Political disputes delaying resolution of the crisis, and it's become increasingly pessimistic sentiment of important factors. According to the United States third-quarter GDP growth was revised down to 2%, below market expectations, United States in November, the University of Michigan consumer confidence index end value is 64.1 also fell short of expectations. Analysts pointed out that United States economic recovery very crispWeak, consumer confidence has been in a recession levels, talks reflected the serious differences between the two parties in Congress, but also reinforced the uncertainty in the minds of consumers, the Fed may consider implementing new policies, or the European debt crisis will bring new risks. High-volume, high deficits, high unemployment, sluggish economy is highly common situations faced by the debtor countries, there is no oneCountry willing to pay a long-term price for resolving Europe's debt crisis. Cuts in public spending, compress budget deficit, but also makes recovery more difficult. Analysts believe that because of the European economy in deep debt crisis embarrassed, United States debt problem there are signs of further deterioration, resulting in economic prospects in Europe and, held back from Europe and the economic downturn the trend of global economic growth has beenSlow as well. 　　Global capital market dismal recent capital market trends, UPS and downs of European debt crisis will undoubtedly affect the nerve of global stock markets, working on expectations about the investor's decision, endless delays in testing the resilience of markets. Since Black Monday this week, Europe is accelerating declining, while the Asia-PacificThe stock market, as well as the rest of the world has also been declining. 　　Road funds duolu escape escape risk, causing global stock markets, commodities, gold market declines. As of dispatch, the United States all the three major stock indexes decrease this week Super 4.3%, United Kingdom week or 4.39% the FTSE 100 index; Germany DAX index of 30 weeks fallsSite for 6.42%; France week CAC 40 index was down by 5.83%. Asia-Pacific stock markets Japan week or 2.56%, Australia week decrease of 4.45%, Korea-week decrease of 3.41%, the Singapore stock market week decrease of 3.16%, India stock market week or 4.13%. 　　This week the international commodity markets also fell. In view ofGrowing debt crisis in Europe, on Wednesday Germany failed in the Treasury bond auction, as well as sluggish economic data, eurozone policymakers at the slow progress in seeking a solution to the crisis on the way, the festering European debt problems will also continue in the period, the global capital market pessimism will become more concentrated, this is the reason that global markets this week was dismal. Analysts believe that the European debt crisisDrag the longer, the more difficult to solve, the more deep extent of the damage caused by the crisis, European debt crisis to prepare for worst case. In the middle of four quarters, analysts widely on 2012 capital market movements are expected. China Merchants securities (600,999), capital market trends for 2012 will be more by macroeconomic factorsLead, including the evolution of the European debt crisis, United States economic trend, the situation of China's economic growth and inflation, and the trend of macro-policy, which will to a large extent determine the mood swings of the capital market, as well as the possible investment topics.