GLOBAL markets are yet to experience the "capitulation necessary" to signal the bottom of the cycle, Threadneedle has warned.
Rebecca Chesworth, UK equity specialist, says Threadneedle will continue to operate cautiously as concerns over a slowdown in the UK and US continue to dominate investor thinking. Chesworth believed the market will "struggle to regain its start of year level", but said she is confident a correction is imminent and anticipated further interest rate cuts. "There are reasons to be positive over the longer term, especially given the recent cut in interest rates," she said. "Threadneedle is forecasting further cuts to 4.5% before the year end. "Valuations and the reasonable financial healt...
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