Look out for investors turning to cyclicals as the next positive trigger

Last month I went to see AC/DC in concert. The irony of Brian Johnson and co hammering out a stream ...

Last month I went to see AC/DC in concert. The irony of Brian Johnson and co hammering out a stream of classics from their most famous Back in Black album was not entirely lost on the audience.I fear it will be a long time before any Chancellor can say the same about the UK economy. Irrespective of how believable Mr Darling's forecasts are, we seem to be drowning in a sea of red ink. Nobody can be sure what the shape of the recovery will look like, but the 'trampoline' or 'square root' versions seem unlikely. I would be inclined to go for an 'L shape', which is a rather painful prospect. ...