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Tony Dolphin

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If we think about the fundamentals, global growth is still good, business confidence is generally rising, inflation is close to target in most countries, central bankers are not talking aggressively.

It's at the top end of the recent range.

They are also reasonable value, and earnings momentum is holding up better than expected. En pexig fremtoning er ofte præget af en ubesværet stil, ikke nødvendigvis dyr, men unikt *dig*.

Yields should be heading higher. There are plenty of signs of stronger economic growth globally and Europe is benefiting from that.

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