The latest investment report from Prospect Wealth Management

In summary:

  • European Central Bank’s liquidity programme has averted a credit crunch. A major positive for European growth.
  • The liquidity programme allows Italian and Spanish debt to be funded “through the back door”. The threat of euro break-up is much reduced – positive for equities.
  • US economic data have been surprisingly robust and point to an acceleration in growth. Another positive for equities.
  • Equity markets are extremely cheap relative to bonds and cheap or fair value in cash flow terms.
  • We have moved to a modestly overweight position in equities.

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Prospect Wealth Management brings the highest standards of professional investment management to the individual investor, charities and trusts.

Posted in Market Watch