Goldilocks growth

Anatole Kaletsky | Gavekal Draganomics | 02 May 2019

With Wall Street hitting all-time highs and the US economy certain to set a record in June 2019, it seems a lifetime since the despondency in financial markets at the end of 2018. Fears of recession have been completely refuted, and investors who shared the view expressed here in early January 2019 - that markets were just going through a bout of irrational panic - have enjoyed the strongest start to a year since 1998. 

The market's roller-coaster ...