Bond Outlook January 28 2010

It is a case of economists versus traders. Guess which are optimistic and which pessimistic. Which are right? Just as important, which view is gaining credence?

Bond Outlook [by bridport & cie, January 27th 2010]

The Obama/Volcker plans to reform the banking industry have set back financial market optimism, although majority opinion still seems to lie in favour of a sustainable and solid recovery. Our own view remains that GDP growth in the West can only be very modest – what we have described as the long horizontal leg of the L-shaped recession. There are those whose views are even more pessimistic than ours, of which there is a fair representation in the line up at Davos.

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