13 factors driving equity bulls and bears
Bearish: Medium-term GDP growth
Medium-term GDP growth could be held back by a number o factors, including bank, government and household deleveraging; state, local and federal government fiscal austerity measures; recessionary trends in Europe; weak consumer confidence and personal income growth; and lackluster global trade and business capital spending.
Source: Morgan Stanley Smith Barney Investment Strategy, Morgan Stanley & Co. LLC Research, Citi Research, ECRI, and Bloomberg. Note: Unless otherwise indicated, data are as of Feb. 15.
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