September 20, 2006

Our outlook calls for an economic slowdown of the major economies, yet we are not calling for a recession. A global soft landing may be a more appropriate term. While we believe that large-cap stocks will post positive returns, we are not quite certain that they will outperform bonds. Traditionally an environment of declining inflation and declining real growth rate has favored the returns of the fixed income instruments over those of equities.

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