Fidelity International’s Trevor Greetham said he’s been selling stocks over the past six months in anticipation of economic “difficulties” later this year.
Central banks are finding it’s easier to push up stock and home prices than it is to prevent inflation from falling short of their targets.
European stocks climbed the most in two months after a gauge of manufacturing in the euro area rose more than forecast and as investors awaited a Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts.
The world economy is sliding into a “twilight zone,” trapped between outright expansion and renewed recession.
Central bankers are taking a break rather than hitting the brake.
European Central Bank President Mario Draghi signaled he’d rather use interest rates than the printing press to bolster growth as the debt crisis drags the euro-area economy toward recession.
U.K. stocks closed little changed after Chancellor of the Exchequer George Osborne presented his annual budget to Parliament.
"Our big-picture view of the world is one in which growth stays strong but inflation remains muted, like it was in the 1990s."
- Trevor Greetham on Jun 25, 2014