Mike Lenhoff Quotations

We've seen a bit of profit-taking (in the U.S.). I don't think this is the start of a serious decline in global equity markets.

The combination is helping to underpin equity markets and should drive them higher.

The market is up and wants to go higher. It looks as if we'll get to somewhere between 5,600 and 5,700 by year end.

The market has moved ahead and made progress, and that's with rates rising. The Fed is likely to cap rates at 5 or 5.25. Rates will be less of an issue.

The market is really banking on the fact that all the factors that pushed it up last year are going to do so this year. The only thing that will stop it are higher interest rates and earnings disappointments -- at the moment it does not look like you are going to get any major earnings disappointments.

We are seeing more analyst downgrades than upgrades. Loss of earnings momentum in Europe is weighing.

We are seeing more analyst downgrades than upgrades, ... Loss of earnings momentum in Europe is weighing.

Corporate earnings growth remains supported by the outlook for global economic activity, which is improving.

If there is a statement out tomorrow that says the U.S. economy is still sizzling and we are still concerned about inflationary pressures ... then that will shake up the market a bit and that will reverberate back to Europe and the UK.

We have probably moved ahead of ourselves. The market is not expensive but it has moved quite forcibly upwards.