Market Thinking

making sense of the narrative

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Tag: Fed

June Market Thinking

Slightly More Confident The market fall this year has been steady and relentless rather than a panic crash, and last month the Sell in May mantra cut through and markets switched to bear market behaviour of selling rallies and not Read more…


May Market Thinking

Overview – Tide Going Out The liquidity tide is going out. The relief rally from the middle of March has completely unwound, leaving April as one of the worst performing months in Equity markets for years -especially in the NASDAQ. Read more…


Modest good news has an exaggerated impact.

As Mark Twain once said, “it’s not what you don’t know that kills you, it’s what you know for certain to be true that turns out not to be”. As such, the sharp response in markets to assorted mildly positive Read more…


Don’t Fear the Repo?

The Fed had to intervene in the Repo markets last week for the first time in a decade, causing half the market to wonder why this happened and the other half to wonder what the Repo Market actually was. Essentially Read more…