Analysts are moderately optimistic for stock markets in 2013, but not because they expect strong economic growth. Holger Schmieding at Berenberg Bank expects global growth to be lower in 2013 than 2012 as Japan and the eurozone stagnate. But, he says, barring catastrophes, "risk aversion will gradually recede" which will raise share prices and government bond yields. "We expect 2013 to prove the doomsters wrong again," he says.
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