Danske: Real Bulls Never Give Up?

Danske comes with a "re-fined" equities strategy today:

The global economic downturn accelerated in December according to private consumption and industrial production data from across a number of regions. From an equity market perspective, our view is that fears of the global economy being unable to right itself (as it usually does) after the current crisis are becoming overblown. Using the analogy of driving a little too close to the edge of the road, our fears of ending in the ditch are greater because of the proximity of the ditch. However, the risk of actually ending up in the ditch is still small, as motorists usually correct their course and bring the car back to the middle of the lane (read: economic policy is eased).

However, while we expect positive equity markets in 2009, there is of course the risk that we will actually end up in the ditch – so to speak – despite all the help in the shape of tax cuts, infrastructure products, interest rate cuts, etc. Below, we therefore outline five key factors we believe investors can monitor to assess if the global macro economy and the corporate world have hit bottom.

- Consumer confidence
- US ISM
- US housing activity
- Credit and money market rate spreads
- Analyst earnings expectations

Booo, consider as a probability... Why I have "framed" them as "selected genetically modified bulls"? Am I an idiot? All lemmings have the right to join the party ...