John Redwood: Why a repeat of the 2019 share price 'surge' is unlikely

The US stockmarket has been hitting new highs. It is election year, so investors are often looking on the bright side.

They expect US President Donald Trump to do everything possible to stimulate the US economy and keep the recovery going. Why the US could see a rebound from its 'manufacturing trough' They see the Federal Reserve is keeping rates lower for longer and has been putting money into markets by buying up Treasury bills to help the banking system.  The tax cuts put through when Republicans controlled the Congress mean more are willing to repatriate profits and invest at home, while the deregulations in banking and energy have boosted US oil and gas output and helped fossil fuel using indu...