North Miami, FL (PressExposure) September 19, 2009 -- "Sun Worldwide", the Asian-based boutique brokerage has apparently reiterated its position on the prospect of a meaningful recovery in the fortunes of the US economy with a scathing attack on commentators who "ought to know better".
Analysts close to "Sun Worldwide" are thought to have used the latest issue of their newsletter to warn clients that equity bulls airing commentary in the media and on television were merely talking up markets to effectively "pump and dump" stock at the expense of the retail investor.
Sources close to '"Sun Worldwide" say the firm is adamant that it will be impossible for the US to return to the kind of growth many economists are alluding to without the express participation of the US consumer. They added that with unemployment set to continue to rise and no real tangible sign of a sustained recovery in the housing market, it was likely that the US government would have to continue its role as the "consumer of last resort" for much longer.
Although the key US indices have rallied strongly in the 6 months since hitting their March lows, there is compelling evidence to suggest that speculation that the activity is the beginning of a new bull market in equities is foolhardy.
"Sun Worldwide" analysts cite low volume trading with the slightest hint of bad news sending investors back to the sidelines holding cash or buying treasuries.