Is the UK's bull market about to turn?

Allianz GI's Matthew Tillett explains why he believes the recent outperformance seen in UK equities is unlikely to continue

There is no question the UK economy has performed remarkably well in recent years, especially when compared to OECD peers. In stock market terms, this has led to a significant outperformance of domestically focused companies versus international peers. I think this trend is unlikely to continue for three reasons. Firstly, the prospects for the UK economy do not look as rosy as the trend of the past few years would suggest. Unemployment has already fallen from 8% to 5.5%, a level not far off previous cyclical lows. I seriously doubt it will fall to 3%. The monetary policy environment o...