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helped drive forward returns, as you say. this target was what we were expecting to hit at the end of the year, but we have seen a little bit of better than expected economic data also helping optimism that earnings growth might pick up a bit in the next few months. so is this all about expectation for rate cuts? is the optimism because of strong earnings? i the optimism because of strong earninus? ~ ., , earnings? i think it really does reflect earnings? i think it really does reflect rate - earnings? i think it really does reflect rate cut - does reflect rate cut expectations and the growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and negative for some companies. growth is slowing, it does cast doubt on the possibility of a re acceleration in the interim here. so it leaves that rally a little vulnerable to any failure to reach those expectations. japan s nikkei has crossed the 37,000 ....
continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better than expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings? optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations earnings? it reflects rate cut expectations undergoing - earnings? it reflects rate cut l expectations undergoing belief that the us can have a soft landing, when you look at earnings growth, actually earnings growth, actually earnings ....
that we have returned to negative growth? that we have returned to negative urowth? , that we have returned to negative . rowth? , ., . ., , that we have returned to negative urowth? , ., , , . growth? they were actually expecting 0.396 contraction growth? they were actually expecting 0.396 contraction during growth? they were actually expecting 0.396 contraction during may, - growth? they were actually expecting 0.396 contraction during may, due - growth? they were actually expecting 0.396 contraction during may, due to l 0.3% contraction during may, due to the impact of the extra bank holiday related to the coronation. pretty mixed bag. it is not great overall. if you look at the numbers over the last three months, the uk economy essentially flatlined, as you said in your preamble. the uk economy is barely larger than it was four years ago, pre covid. it s not looking great, and if you look at what the markets think in terms of longer term growth for the uk econom ....