Monday, 17 October 2005

Bull market threatened by rising inflation and interest rates

The global bull market in stocks is now between two and a half to three years old. Despite the gloomy prognostications from bears, stock markets have continued to hit new cyclical highs over the past few months, thanks to a global economy that has surprised many with its resilience as well as stubbornly low interest rates. Looking forward, the question is whether the favourable conditions of the past few years will persist and continue to support stocks.

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