Why the UK market is unlikely to see new highs in 2015

The recent bull market that started in 2009 has been about ‘rehabilitation' from the abyss of the financial crisis, the power of easy money and consequent asset inflation. This move has not only been underwritten by central governments but by the continuation of previous themes of technology, labour costs, globalisation, and shareholder value strategies that have led to rising margins, notably in the US. With the ‘rehabilitation' having largely run its course, and most developed economies recovering well, markets are now focusing on the forthcoming interest rate rises in the US and U...