Tax on dividends has been cut by more than half but the boost in yields is only one patch of light in an otherwise gloomy investment environment in the US
Wall Street leads the way for other markets to follow. That is the conventional view. US equity indices touched their low point on 9 October 2002, some five months in advance of their European counterparts and over six months before the Japanese stock market bottomed at the end of April. In a sense, therefore, other markets have lagged, rather than tracked the US. This directly mirrors the advanced stage that the US occupies in the economic cycle. The US economy has been subjected to enormous stimulation on a broad front, so it is hardly surprising that recovery can be detected there, w...
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