June 23, 2003

A bullish equity outlook accompanies the bearish bond outlook. In fact we believe that the economic recovery will lead to a rise in the real rates of return and that will lead to an inverse relationship between equity returns and fixed income returns. Our model puts the likelihood of the equities outperforming the fixed income component at 66%. The model anticipates the continued/gradual liberation from the double taxation of income.

You must have an active account to view these reports. You may register for a trial here

Download Complete Report in PDF Format

Download Complete Report in Word Format