Are you a half-full or half-empty type of investor?

BONDS

Jeff Keen of J O Hambro Investment Management, believes investors' perspective defines the state of today's bond markets

As we progress through the third quarter earnings season, US companies have again managed to outstrip analysts’ expectations. According to recent Thomson Reuters research, with 69% of US companies having reported, only 17% have disappointed. We need to recognise companies are well-tuned to the market’s dislike for negative surprises and tend to be conservative in their guidance, therefore making surprises that much easier to achieve. But this trend of beating expectations has been an ongoing theme in recent quarters. Remember these were the analyst forecasts that were criticised as be...