Markets to shift between bull and bear

We can now look back on the first half of the year; a period that has seen a marked shift in investors' attitudes from risk aversion to risk seeking. From the lows in March, this has resulted in gains of around 25% for most major equity markets. The FTSE All-Share rose 26.81% between 12 March and 7 July and the S&P 500 went up 22.58% over the period. After having suffered more than other markets over the past three years, the Eurostoxx 50 went up even further, seeing a rise of 31.34%. There have also been good returns from fixed interest portfolios, with the average yield for a 10-ye...