Remaining bullish as the cycle goes on
We stay bullish on risk assets as we believe the medium term outlook for markets has actually improved
The economic cycle is extending once again, in our view, thanks to a combination of more sustainable growth and benign inflation
Three months ago, following a brutal period for equities, we noted that investors were likely to be rewarded by “being fearful when others are greedy – and greedy when others are fearful”. Spectacular returns over the first quarter demonstrated the truth in that old adage.