The overall climate for equity markets is looking benign. Continued global growth without much infl...
The overall climate for equity markets is looking benign. Continued global growth without much inflationary pressure is our core scenario for the rest of 2000. Any risk of further interest rate increases appears to be discounted already in the bond markets. The second quarter repricing of long duration stocks (or stocks whose price demanded the greatest number of years' sustained earnings growth) has turned to a more normal focus on unrecognised growth and value characteristics. At the same time the European macro environment is looking positive. Across Europe unemployment is falling w...
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