Fundamentals stronger than headlines suggest
While the yield attractions of equities have rarely been so strong relative to bonds, it is undoubtedly right that a significant amount of commentary is currently devoted to record levels of net debt and shrinking dividend cover.
Favours EMD to mitigate rising rates
More risks in UK than Europe
European political fears are overstated
ECB's target was slightly below 2%
Inflation has overshot ECB target of 2%