American house prices have regained their credit bubble highs, according to the Case-Shiller index of national prices. Prices are rising at an annual rate of 5.9%, the fastest in almost three years; this figure peaked at 16% in 2004.
Viewpoint
"History suggests almost no meaningful correlation between domestic political outcomes and investment performance. Over 35 years, there have been four parliaments in which the government had a majority of more than 100. The performance of the UK stockmarket during those periods ranged from a positive 153% gain (between 1983 and 1987 under Margaret Thatcher) to a negative 16% fall in Tony Blair's 2001-2005 term. The biggest majority of all [1997] resulted in an unexciting four-year return of 33.7% The election will be entertaining for political junkies [but] for investors ... the news will be big but unimportant."
MoneyWeek
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Fidelity's Tom Stevenson,The Daily Telegraph
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