“The shift in policy by all three central banks (Fed, ECB & BOJ) marks a real change in policy. The work completed in 2012 sets up 2013 as a year of strong asset price inflation both in nominal, but importantly, real terms. This is an environment in which global growth can surprise to the upside. Indeed, I believe growth could be faster than any year since 2007. There are undoubtedly, however, risks to this outlook. But they are long term risks that can be managed.”
A great quote from James White, Senior Analyst Investment Markets Research, titled “Riding the Wave – Equities Bull Market”.