Prosperity on the horizon after difficult time for US

After three years' underperformance by North American equities, Martin Currie manager, Tom Walker, p...

After three years' underperformance by North American equities, Martin Currie manager, Tom Walker, predicts a renaissance in stock price performance. Since February 2003 the MSCI North American index has underperformed the FTSE All Share, Topix and MSCI Europe and Emerging Markets indices. Walker attributed this to the rising appetite for emerging markets, concerns about the US dollar, the size of the current account deficit and the Fed's policy of raising rates. The current account deficit is now the equivalent of 6% of GDP and Walker estimates some $2bn a day of foreign funding is comin...