Only looking on the bright side

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Equities last week recovered their losses of the previous week. There was a lot of news out, and it is fair to say that the market looked on with rose-tinted glasses. Lockdowns are now in the process of being relaxed, both here in the UK and across much of Europe, which is clearly good news. But the relaxations are very … Read More

A Correction was Overdue

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Last week was very much a week of two halves for equities. It started on a strong note but markets fell back towards week-end and are down again today. The initial gains were driven both by the tentative easing in lockdowns now underway in much of Europe and some states in the US and encouraging drug news. A new trial … Read More

A Tug of War

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Equities fell back a little last week, following the sharp rebound seen over the previous month, though have opened higher today. Markets have been pulled in opposite directions this year by two extremely powerful opposing forces. Their prospects going forward basically depend on how this tug of war plays out.

Taking Stock

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Global equities last week posted further gains of around 2% and are now up close to 25% from their lows having recovered half their losses. The rebound has been the fastest ever from a bear market, with the gains taking less than a month, just as the sell-off itself occurred at record speed. The sharp rebound is rather at odds … Read More

Markets have got ahead of themselves

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The rebound in equity markets resumed in force last week. Global equities gained as much as 10% in local currency terms and as of Friday were up 21% from their March low. The US has led the rebound and has risen 25% from its low point. The recovery in UK stocks has been a more moderate 17%, aside from the … Read More

Panic in the air

Equity markets are down sharply this morning, following a volatile few days last week. At the time of writing, UK equities are down some 6% from Friday’s close, and are now in official bear market territory, having fallen 20% from their highs earlier in the year. The sharp rise in coronavirus cases outside China is clearly the main factor behind … Read More

Too much uncertainty

Global equities fell sharply last week as concerns over the rapid spread of the coronavirus outside China unnerved investors and most markets are now down around 12% from their highs. UK and European equities bounced this morning but have already unwound their gains. The economic and market outlook is highly uncertain with the coronavirus centre stage and the experts – … Read More

Equities finally succumb to the Coronavirus

Equities have finally succumbed. Until Friday, global markets were still hovering around their January highs. But markets fell back 1% or so on Friday and the UK and European markets are down more than 3% this morning. The recent spread of the virus outside China, with Korea and Italy both now imposing quite radical containment measures, has spooked equity markets. … Read More

Equities verging on the complacent

Equity markets have their rose-tinted glasses strapped on firmly. Global equities rose a further 1% last week and are now back above their January highs. The news on the spread of the coronavirus in China certainly seems reassuring and the radical measures put in place restricting people’s movement appear to be working. Confirmed cases have been rising in recent days … Read More