Supermarket shelves are bare. There may not be enough turkeys for Christmas. Wages and prices are rising. And the government is sinking into a pit of sleaze. As if that were not enough, the EU is about to launch a full-scale trade war against the country.
Following the day-to-day news, you could well be forgiven for thinking the British economy was sinking into permanent chaos, doomed to replay the dark days of the 1970s. But hold on. Amidst all this gloom, the world’s biggest and most powerful investment bank, JP Morgan, says now is the time to be buying British.
JP Morgan has not always been a fan of the UK
The bank’s head of global equities Mislav Matejka argued in a note to clients this week that the London market is now a bargain compared to its major rivals. Supply constraints should start to ease very soon, the bank suggests. And it thinks energy prices may well fall back again after a spike last month.
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