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Market Correction Likely For Equities, Says Ashburton

by Carla Johnson, Investors Offshore.com

22 December 2003


Investment firm, Ashburton revealed last week that equity markets have risen to new highs, shrugging off excessive investor optimism, in a reversal of its previous predictions.

Speaking to the Investment International news service, global investment strategist at Ashburton, Peter Lucas explained that a key factor in the uptrend in share prices has been the US policy of keeping interest rates ultra low.

However, he suggested that markets are unlikely to increase much further, as there is likely to be a correction in share prices in the near term.

"It is our belief that it is only a question of time before the US bond market experiences another lurch lower," he announced, adding that: "This should be enough to produce the short term correction in share prices that we have been looking for."


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