Equity market brushes off Budget

The impact of the emergency Budget on equity markets has been obscured by the crisis in the eurozone.

However managers believe the key to performance will be the strength of the US recovery. PSigma’s income manager Bill Mott says: “Unknowns in relation to the global market remain in place, and, with regard to equity markets, the action taken in the Budget was well-known – there were no surprises. “More important is the US, the dynamics in Europe, and whether emerging markets will grow faster than developed markets. The outlook for markets over the next few years has never been more influenced by political factors.” Mott says as there are several issues still uncertain, and only the...