By and large we've ended up better than many of the forecasts that were made at the beginning of 2005 and the reason is that economic growth has held up much better than people expected.
More Quotes from Edward Menashy:
The thing behind it short term, without any doubt, is the merger and acquisition activity.Edward Menashy
The picture is not altogether clear that we have definitely reached the peak in short-term U.S. interest rates and that from here bond yields will start going down again.
Edward Menashy
If we look at 2006, the expectation is identical to the start of 2005. People are talking about a slowdown and therefore corporate earnings growth will also slow down.
Edward Menashy
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