Oil price surge sparking double-dip fears - Iggo

The rapid rise in the price of crude is reviving fears of a double-dip recession, Chris Iggo at AXA Investment Managers says.

The firm's CIO of fixed income says an oil price surge is often an indicator of a slowdown in the economy.  Iggo says: "A rapid rise in oil prices tends to precede an economic downturn so, despite the fact that the current pace of global economic growth is quite strong, markets are now pricing in a slowdown and, I would not be surprised, if we get a repeat of the double-dip fears of last year." Oil rocketed to near $120 per barrel at the end of February as the crisis in the Middle East erupted. It has pulled back in recent weeks but is still currently trading at around $114 per barrel...