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However, this worry is based on the Treasury's projections in the April budget of a substantial upturn in corporation-tax revenues.
"There's not much strength at all in the U.S. economy," he said, adding that "we're not planning on any substantial upturn either this year or as we look into the early part of next year".
"[It] reminds us that consumers remain under pressure from high unemployment, squeezed incomes and uncertainty about the financial outlook, and that any substantial upturn in domestic demand, especially from households, is unlikely to occur any time soon and is therefore unlikely to help drive economic recovery," said Markit chief economist Chris Williamson.
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But economists foresee a strong upturn, especially in manufacturing.
What would produce such a shift in the overall partisan environment is unclear, but a substantial economic upturn or downturn, a major foreign policy success or failure, a significant gap in turnout among Democratic and Republican voters, a partisan row in Congress like last year's debt ceiling debate or a major scandal involving Mr. Obama or Mr. Romney are all possibilities.
In addition to an upturn in employment, substantial improvement has been noted in production and manufacturing.
Substantial scope for improvement remains but the upturn in 2000 should encourage efforts to increase vaccine uptake further.
"For those brave enough to anticipate the upturn... the rewards may be substantial," it said.
In 2008, there was another upturn (not statistically significant) in the prostate cancer mortality trend.
Third, I would continue to load up on the Hong Kong market because it's selling at a substantial discount to China, and it's not discounting in any way the upturn I see coming in 2002 and 2003.
So unless you have substantial bond holdings in your portfolio well before a recessions begin, you'll miss upturns in the bond market.
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