No bear market despite more cautious outlook

ON ASSET ALLOCATION

PSigma's Tom Becket says confidence is vital to ensuring a tentative recovery.

Financial markets are once again in a state of nervous flux. While we remain characteristically cautious, we are yet to be convinced the great bear market that commenced in 2000 is roaring once again. Over the past month, we have started to see tentative signs the global economy is spluttering, as the manufacturing sector starts to slow from the breakneck speed it was growing at over the last year. This is not unsurprising, as the output growth it has enjoyed was unsustainable. This uncertainty over the sustainability of the global economic recovery has revived talk of further quan...