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Morgan Stanley doesn’t see 90s-style British recession

LONDON (MarketWatch) — Morgan Stanley strategists said in a note that they don’t expect a 1990s style recession in Britain, assigning only a 20% probability to that. “We do not dispute that the outlook for the U.K. economy over the next 12 months is poor, however the level of negative
sentiment is already very high, in our opinion, and hence a
certain amount of bad news is already ‘in the price,’” the strategists said. They advised to start buying selectively stocks in retail, banks and leisure, selling the short end of the U.K. yield curve and selling the British pound against the Swiss franc and the U.S. dollar.
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Original post by Forextvblog

This entry was posted on Friday, June 27th, 2008 at 1:47 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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