John Redwood, chairman of the investment committee at Charles Stanley, warns 2014 is a year for caution as the US cuts back its bond-buying programme.
Last year, investment was dominated by events in the US. The US stock market was a great performer, and more investors came to trust the US recovery. Most of us liked America’s drive for cheap energy, the strength and breadth of US technology, and the ability of the US to improve its competitiveness and industrial activity. Markets were also wary of the US approach to monetary policy. The authorities continued with substantial bond buying programmes, at $85bn a month. When the US indicated it would have to start reducing its bond buying and, in due course, end these extraordinary m...
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