In the UK, the liquidity environment remains bullish with growth in the money supply continuing to o...
In the UK, the liquidity environment remains bullish with growth in the money supply continuing to outpace the growth in industrial output. The excess cash has to find a home and for the past couple of years this has spurred a rise in asset prices, whether equities, bonds or property. For the equity market to progress the positive liquidity conditions need to be accompanied by positive sentiment. In the last few months there has been a spate of weak economic figures. Most of the gloom has centred on the consumer, with retail sales coming under pressure as households rein in their spending...
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