Are investors prizing protection over profit?


The ‘new normal’ seems to be a bi-polar psychology that veers between outbreaks of panic and relief

By Nick Evans

The summer lull is over – after the most drama-free August, in the financial world at least, for many a year – and it’s back to reality with a strong sense of déjà vu.

All eyes remain on the central bankers and their ‘unconventional’ monetary policies, with markets increasingly hooked on liquidity interventions and increasingly despondent about global growth prospects.

In the US, Bernanke has pulled the trigger on QE3 – hoping to kickstart (again) a US economy that badly needs a boost ahead of what is shaping up to be the most polarised, divisive