The recent bounce in global equities has been technical not fundamental says Henderson analyst, Adria...
The recent bounce in global equities has been technical not fundamental says Henderson analyst, Adrian Pankiw. The rally has been led by consumer discretionary stocks at a time when global unemployment is on the rise and such rallies have proved unsustainable in previous bear markets says the analyst. "Given this price action, a retest of the cyclical lows in equities looks probable," says Pankiw. "Once labour market conditions stabilise, interest rate sensitive sectors, such as consumer discretionary, should indeed lead the rally as they did in mid 2003." US consumer prices experienc...
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