A bit hard to add anything to yesterday’s comment as virtually everything is exactly where it was.
Markets seem determined to talk themselves into a sense of panic and yields on ‘safe haven’ assets remain at all time (ever) lows.  It is rather curious that while things do seem a tad ‘low’ the types of doom laden prophesies that I am reading every day appear completely out of line with current reality.  Yes, things are tough and likely to get tougher but it could be argued …

Markets have managed to recover from the lows of yesterday but the bounce can hardly be described as aggressive and we are risking further bad news impacting confidence.
Trading is very quiet as the excitement of the last few days begins to die down and investors try to evaluate the new levels.  As stock market crises go this one is really in its infancy but this has not stopped the usual suspects in the flight to quality section of investment assets from climbing to unheard of …

Much as it might surprise readers the biggest investment market in the world is not equities…. it is bonds.  Sovereign, Supra National, Local Government, Corporate, Mortgage Backed even, in rare examples, personal issuance etc. This market (if it is correct) is now telling us a worrying story of our future with low rates, low growth and possible deflation leading to recession followed by paltry growth followed by recession and so on.  The possibility of a Japanese effect occurring in the West has moved a …

Suddenly things do not look so rosy in the garden.  The equity markets continue to weaken day by day (although the FTSE, buoyed up by mining stocks, is doing okayish) as a sense of malaise permeates through investors confidence.
Recent economic data has been disturbingly on the grim side and dealers are struggling to see any light in the distance.  The City (whilst by no means a totally true barometer) is seeing some solid redundancies going through and this is just one year into the ‘upturn’, …

Another slow start to the week and with little UK or US data out today it appears this may remain the state of affairs for yet another day.
The FTSE is now back over the 5200 mark and at the time of writing seems to be happy around the 5220 level. Again, with very few data announcements out today it might be like watching paint dry with the expectation that the FTSE may remain fairly range bound today. Despite this, many of our clients appear to be …