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Green shoots or first cuckoo?

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We reported last week on increased bank lending in the most recent quarter and the ever so slightly encouraging notes coming out of the mortgage lenders on house prices.

Robert Peston’s blog is on the same path. He helpfully reminds us that this recession is not just about credit supply but also a fundamental mistrust in asset prices. Only when these stabilise will lenders or indeed any business contractor feel comfortable about a commercial relationship based on today’s prices.

Interesting also to see Lord Pesto avoiding the "green shoots" trap so famously and heffalumpishly fallen into by Norman Lamont. He opts instead for "the first cuckoo". Any other suggestions for phrases to describe the early call of the cockerel/cuckoo/green shoots…

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