Best ever bull is a phrase that was used by J.P. Morgan's Adrian Mowat in a recent press briefing to describe the economic outlook for emerging markets. In contrast to the skeptics who are questioning the sustainability of the recent stock market rebound, the bank's head of equity strategy for Asia-Pacific views the current improvement in various stock market indices as the beginning of an ongoing expansion.
In line with its optimism, J.P. Morgan recently revised up several of its growth estimates. Its forecast for third quarter US GDP growth now stands at 2.5%, up from its previous estimate of 1% and significantly higher than the consensus estimates of 0.5%. For 2010, J.P. Morgan's growth...
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