Markets start the week with some profit taking from the hot markets in China spilling over into a generally weaker Europe disappointed by lack of co-ordinated action on any form of fiscal stimulus ‘rescue package’.

A few observations however. No sooner had we posted on the template that Hong Kong provided for the west, both good and bad, than Hong Kong itself doubled down on the bad side, closing schools, gyms and all evening restaurant dining on a modest spike up in cases and an increase in deaths

There were shades of 2015 in the Chinese markets this week as margin financing came roaring back in for China’s re-boot of the ‘can’t lose’ mentality recently adopted by the RobinHood day traders in the US – and still frankly running in the US tech space.

Our whole approach to Market-Thinking is based around the psychological behaviour of markets and trying to make sense and anticipate the behaviours of our three key ‘tribes’ – traders, asset allocators and long term investors.

We are grateful to Dilbert creator Scott Adams for this insight. Following his announcement that he intends to run for President, the US media are in something of a panic over Kanye West.