Rathbones' Stick on this year's equity market conundrum

ON UK INCOME

2013 ended with a flourish as global equity markets pushed through to the end of the quarter.

2013 ended with a flourish as global equity markets pushed through to the end of the quarter. Economic news was reasonably supportive, as was the degree of rapprochement that was achieved by politicians in the US over their budget discussions. On the other hand, the bears continued to argue that economic conditions remain far from rosy. This tension will last through 2014, and it does inform our outlook. There is a clear schizophrenia surrounding market views as we embark upon 2014. The bulls remain hyper-bullish, the bears uber-bearish. We get the feeling that most market parti...