Stocks have fallen sharply on fears of a sovereign debt default by Greece. Whilst Greek debt is the biggest issue in the world today, many investors seem to have forgotten about Dubai. We expect to see the current crisis in both Greece and Dubai come to a head in May when both countries will be forced to re-issue a substantial part of the debts.

World markets are likely to experience a lot of volatility in the run up to May, however once the current crisis is finished we should see a relatively stable outlook for equities and commodities.

Underlying economic data has been good in the first quarter with US unemployment falling and many companies returning to profit.

Indeed, Corporate Earnings are still on track to reach record highs in 2011. With this in mind we should see a good outlook for investments in 2010, however returns are likely to be volatile.