The document summarizes GLC's comments on the impact of the 2011 Japanese earthquake on capital markets and the global economy. It notes that markets initially saw a sharp sell-off and flight to safe assets like US Treasuries and gold. The Japanese economy will be negatively impacted in the short-term but is expected to rebound due to rebuilding. The global economic impact is forecast to be modest as production can be sourced elsewhere. Market volatility is predicted to be short-lived as the situation becomes clearer. Investors are advised to maintain a diversified portfolio and long-term perspective.