Built to last…
- In 2014 we expect the FTSE to reach 7,400; the S&P to hit 1,940; and the Nikkei to breach to 18,000.
- We have long argued that this is a long and arduous recovery…
- …but fortunately that bodes reasonably well for equity returns.
- Interest hikes tend to foretell the end of the bull phase of the cycle, as inflation forces policymakers to tighten policy.
- We are hopeful for equity prospects with inflation trending downwards in the developed world.
Investor anxiety has grown as US equities have reached new all- time highs. Expectations for economic growth are modest but we expect another good year for developed equities in 2014 as part of a recovery which has been built to last.
Full article – Market Perspective – Built to last (2014 forecasts) – 9 December 2013 (PDF)
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