Prospects for the other major developed stock markets

All the major developed stock markets have taken a battering in recent weeks. On Tuesday, we revised our long-standing, end-2011 forecast for the US S&P 500 from 1,200 to 1,000. Today, we are lowering our year-end targets for the UK, German and Japanese stock markets. Nonetheless, we expect these other markets to hold up rather better.

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