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Recovering markets may yet be a flash in the pan

Unpredictability is likely to undermine the economy still further

By George Magnus  

Three months ago global stock markets were in a hole, having tumbled by at least 20 per cent from highs earlier in the year. Analysts were falling over themselves with predictions of a recession by 2020. Yet today the US and Chinese markets are around 20 per cent higher than late last year, with Europe and Japan up by a bit less. The FTSE 100 is up by a relatively meagre 10 per cent, but……

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