It looks like the old saying “Sell in May and go away” has just been turned on its head. After cratering for seven weeks, the S&P 500 index ended last week up 6.6%Continue reading
Besides the immense human tragedy that it has caused, Russia’s brutal attack on Ukraine has also thrown emerging markets back at least a decade in terms of attractivity for investors. It will be hard, if not impossible, for the asset class to bounce back.Continue reading
European stock markets recouped all the ground lost since the February 24 Russian invasion of Ukraine, but investor optimism may be misplaced.Continue reading
Will 2022 be the year when the tide goes out in Europe’s financial markets? Many commentators now say it will, and point to the large sums of cash that have gone into stocks, bonds and other financial assets in the past.Continue reading
Those who worry that the extraordinary stock market rally will come to an end in 2022 may be worrying too soon: equities could still power ahead, and particularly so in Europe.Continue reading
Recent capital flows highlight a paradox: investors are afraid of inflation, but seem to have increased their allocation to just the assets that would do worst out of it.Continue reading
“Transitory” is the preferred word to describe inflation these days. Central bankers love it, because it means they can continue their easy money policies. Investors love it, because it means the markets’ party goes on.Continue reading
Even though the vaccines have the potential to reduce the Covid-19 pandemic to manageable levels, the scars will be felt for years to come.
Beyond the tragedy of the loss of human life, deepening inequality is perhaps the worst consequence of the pandemic. Governments around the world will seek to take steps to reduce it, fearing civil unrest.
Even those who still do not believe that climate change is a serious threat to our way of living will need to pay attention: it could turn out to be the next Black Swan for financial markets.Continue reading
The US earnings season is halfway through, and on the surface, it is full of good news. And yet, far from being cheered up by this, markets have been going down. Why is that?Continue reading