As gloomy first paragraphs go, you’d have to go some to top Schroders’ Jonathan Smith’s introduction to a report touting his firm’s momentum investing offering.
“As the global economy continues to de-leverage, the next decade looks likely to be a period of weak growth and low interest rates, punctuated by bouts of heightened instability and crisis.”
Oh but hang on!, here’s Legal & General Investment Management having a go.
“The global economy continues to grind onward, but we don’t see this as a sustained trend: growth is fragile and remains vulnerable to shocks.”
Hmm.. too similar, call it a draw. And anyway, both are cribbed from the popular, and I think unattributed, quote that “war is long periods of boredom punctuated by moments of sheer terror.”