US healthcare and technology to excel

With the decline in the dollar, foreign currencies go much further in the acquisition of US assets. But there are few signs of the tech-driven investment buying spree of 1999/2000 being repeated. This is not due to any shortage of good news. Economic growth in the third quarter reached an annualised rate of 8.2%, more than twice the long-term average, short-term interest rates stand at very low levels (1%) and, with inflation under tight control, the Fed is likely to hesitate in tightening monetary policy. Corporate earnings for recent quarters have consistently exceeded expectation...