Russ Mould of A J Bell discusses the General Election call, pointing out that while CPI inflation has almost returned to target, other measures are considerably higher and CPI itself is 26% higher than when Boris Johnson was elected PM. He explains why the markets no longer believe rates will be cut soon and what this means for those shares that are effectively bond proxies, such as utilities. Ever the contrarian, he highlights REITs – a yield and asset play – where some people think there is value and where, perhaps, most of the bad news is already in the price.

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