The UK is already out of recession. Weaker growth in Q2. Inflation nears BoE target. Key interest rates to be cut soon. Positive outlook for bonds, real estate and equities.

Key points

• The expected economic rebound is underway
• A probably weaker 2nd quarter
• Leading indicators continue to improve
• Falling tensions in the job market
• Household confidence continues to grow
• Inflation nears BoE target
• BoE soon in a position to cut rates
• Attractive yields and capital gains prospects for sterling bonds
• Limited prospects for pound appreciation
• It’s always a good time to bet on securitized real estate
• Weak earnings growth expected for the FTSE100

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