Is there hope for brighter times ahead after period of gloom?

Slowdown in the Chinese economy has sent jitters across global markets
IS that it? Are markets now ready to move on from some of the gloom that characterised the third quarter? We've argued for some time that the pessimism implicit in large parts of the world's capital markets has looked inconsistent with incoming data on the world economy, which remains mixed but far from disastrous for the moment. We still suspect the current economic cycle has further to travel. Jitters around China's lumpy slowdown, US monetary policy and assorted other unknowns will surely return and we've long warned that we're likely closer to the next US recession than the last. Of cou[...]

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