With equity markets still depressed despite positive global economic data, investors face a difficult decision as to when to shift assets from value companies to those offering growth
Woody Allen once said: 'If only God would give me some clear sign ' like make a large deposit in my name at a Swiss bank.' Although a divine signal or a large deposit into a Swiss bank account is unlikely, investors are clearly looking at the recent improvement in global economic data in search of an indication as to when equity markets will break out of their current banana-shaped recovery. The evidence of the recovery has resulted in steepening yield curves, especially in the US, although inflation in Europe and across the Atlantic remains relatively benign. Low inflation and steep ...
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