Real or fake recovery? The Nasdaq hit a record all time high on 9th June 2020 as it continued its unrelenting upward march, as big bets push indices ever higher on the hope that economies around the world will re-open quickly. I’m not so sure – I am beginning toRead More →
So, stocks are up and that means all is okay – no I don’t think so. These big stock market bets on economies re-opening quickly and going back to ‘normal’ are likely lulling us in to a false sense of security. We want it to be good again, of courseRead More →
Gold as a safe haven It is a well known fact that gold becomes a safe haven during uncertain times, and these are uncertain times. So it’s no surprise then that gold has increased in value during this period. At its highest in recent weeks, gold has reached: $1766 perRead More →
Is this a good time to invest in stocks? Probably not. The dislocation between markets and the real economy is, in my opinion, unsustainable. Extremely powerful monetary policies and stimulus measure put in place by central banks and governments to protect the ‘economy’, have given the green light for marketsRead More →
Stocks continue to grind ever higher pushing many indices to reach new peaks as global stocks play catch-up with the U.S. The S&P 500, for example, is now only around 5% from its year high – a remarkable recovery from the March 23rd low. The index is now 40% above its coronavirus collapse.Read More →
As we continue to look at the economic damage done by the coronavirus, yesterday’s focus was on the U.S. ISM manufacturing PMI, which rebounded a little and gave some optimism to markets. The data may suggest that the worst is past for the U.S. economy and that the slowdown inRead More →
We all know the old adage, ‘sell in May and stay away‘, and there is some truth to it – but not for this May it would appear. Many indices saw good gains. So where now in June? Stocks closed out the month with good gains across the board, buildingRead More →