The future shape of US equities

While managers may agree on the shape of the recovery in many countries, the shape for the US is less clear

Fund managers are anything but confused when questioned these days about which letter a global economic recovery will resemble. Indeed, they assign different letters to each region. Emerging markets face a V while China could undergo an L and  Europe could suffer a W. But ask them about the US, and the alphabetical consensus collapses. For some, Americans face a U at best, but according to the less bullish Guy Monson, chief investment officer at Sarasin & Partners, they are in for a long square root. One manager says, given the ride they have had already, if another shock hits the ...