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IPF Consensus Forecasts (Q3)

The latest IPF Consensus forecasts contained few revisions from the previous survey. Capital values are still expected to drop by up to 5% this year, edge a little lower next year and then start to rise again in 2014. We broadly share those views, though acknowledge that a more marked recovery could come sooner. For now, however, a trigger for any rebound is difficult to see.

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