The Wells Fargo Advisors’ Advisory Services Group, led by chief macro strategist Gary Thayer, has just released its 2010 Midyear and Economic Outlook, including its prediction that the stock markets will see “little upside progress” in the last few months of 2010.
Other points of note in the report are as follows:
· – Economic growth should be slower than normal and average 2.8% later this year.
· – The Consumer Price Index —measuring inflation —should be about 2% for the 12 months ending in December 2010.
· – The group suggests being underweight in developed equity markets and overweight in emerging markets. And, overall, the Wells Fargo team sees Australia, Brazil, Canada, Chile, Germany, India, Malaysia, Mexico, Norway, Singapore and Sweden as attractive.