Impact of US rate cuts begins to filter through

Leading economic indicators in the US have bottomed and are starting to edge higher, leading some managers to believe that fears of a recession will have passed by the end of the year. Tony Dolphin, director of research and strategy at Hendersons, says industrial activity in the US will soon begin to strengthen, a point supported by Peter Lucas, global investment strategist at Ashburton. That, however, may take longer to filter through to global markets, Dolphin says, where the fallout of the technology, media and telecommunications boom has yet to be fully digested. Lucas adds:...