Investors Remain Discombobulated

Equity markets had a better performance last week, but investors remain somewhat discombobulated.  As expected, the newsflow remains mixed.  Stories of weakened Chinese trade combine with disappointment over European data and political rumblings all over the place.  On the other hand, the strong US jobs numbers are being followed by expectations of a relatively robust opening to the earnings season.

With so much going on there are the inevitable temptations to act in haste.  Experience tells us that would be imprudent but, equally, we don’t want to simply sit on our hands and ignore either opportunities or, indeed, threats.  So, this week, we are going to sit down and have another long, slow look at what we think is going on, how we are currently positioned and what, if anything, we need to do as a result.  So this note is brief.  There will be more detail shortly.

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