Clifford Bennett of Herston Economics makes the point that the news just gets better and better. Even the usually recent years of bearish mainstream media cannot find anything but bullish stories to report. US equity markets continue to strengthen, and global growth looks set to accelerate as expected. Herston Economics, among the highest of any forecaster, expects global growth to reach 5.4% this year. This includes 4.3% in the USA, 2.6% in Europe, and 10.7% in China.
The outlook for commodities and equities has never looked better as the Fed and ECB maintain minimal interest rate levels due to high unemployment. Despite improving growth expectations high un-employment such as 20% in Spain, and 9% in the USA, mean both the ECB and the Federal Reserve will remain on hold throughout the year. The outlook then remains for strong growth and low interest rates, which all adds up to confirm clear blue skies and upward acceleration for global equity markets. Clifford Bennett has had a 2012-2013 target for the Dow Jones Index of 18,000, since 2009.
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