Performance of the European market is repeating itself after almost a decade, suggests New Star Euro...
Performance of the European market is repeating itself after almost a decade, suggests New Star European Leaders fund manager Richard Lewis. It happened almost ten years ago, and the European bonds market is now experiencing the same pressure as investors are putting their faith in cyclical recovery ahead of any actual earnings fundamentals to support current share prices. Back in 1994-5, investors piled into "deep cyclicals" and are now moving heavily into technology. In both cases, the market "is anticipating corporate recovery but ...
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