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Quarterly Newsletter - Summer 2009


Markets, the Recession and UK Politics


When Bill Clinton was the Democrats’ presidential candidate against the incumbent George Bush senior in the 1992 US elections, his campaign manager coined the phrase “it’s the economy, stupid”.

Looking at financial markets, the same slogan could be applied now.  It all hinges on what view you take about the outlook and sustainability of the UK economic recovery and, indeed, that of the world. [...]
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