Back in April and May the outlook was very bleak. Economic data was telling us all what we feared mo...
Back in April and May the outlook was very bleak. Economic data was telling us all what we feared most. The great US economic miracle was succumbing to that post-war plague of inflation. It looked as if the bull market was coming to a sticky end and with all the excitement and enthusiasm for the new economy evaporating fast. Last year's darlings were becoming the scourge of every portfolio and there was a realisation that it had all gone too far. Clearly the market had got over cooked and fear and greed had a nasty sting in the tail. The economic data has improved over the last six weeks ...
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