SEB: Investment Outlook: Market hopes will require some evidence
World economic growth is poised to accelerate, but this will happen slowly and right now market hopes are ahead of the evidence in many cases. To some extent, stock markets are celebrating victory too early. "The stock market is often said to be an economic indicator that is 6-8 months ahead of the real economy. If, for a moment, we allow the real economy to be represented by company earnings forecasts, it appears the latter are largely standing still while share prices rise. For sceptics, this is a bit too exciting; the market has ended up in a limbo, where hopes are expressed in share