US to take worst hit in global slowdown

The US is likely to take the worst hit in the wake of a global economic slowdown, according to Paul ...

The US is likely to take the worst hit in the wake of a global economic slowdown, according to Paul Markham, investment director of global equities at Newton. “We do not expect a recession in the US but we do expect the global slowdown to be more aggressive in the US than in other countries,” he says. “We expect a continued slowdown and depreciation of the US dollar, leading us to be more positive on the domestic consumer in Asia and Latin America.” Markham has been bearish on the US consumer and currency since mid 2006, leading him to have a preference for defensive sectors including...