Markets stocks

Thank God For The Technocrats

Equities seemed pretty sure-footed in the earliest trading this week, but separating signal from noise is a bit challenging. The dollar was squarely on the back foot, providing a nice tailwind and perhaps a bit of relief for anyone worried that a continuation of last week's rally in the greenback would cause indigestion for risk assets. It's month-end, and by now it seems like folks have decided that thanks to September's woeful performance for equities, rebalancing will be a boon instead of an impediment. "The dismal performance of stocks for much of September suggested a risk of month-end rebalancing purchases into Wednesday’s month-end", Bloomberg's Cameron Crise wrote. "Why shouldn’t the mystery overnight buyer get in on the action, too?" Read more: Stocks Have Cleared Two Of Three ‘Key Challenges,’ JPMorgan Says One reason for not "getting in on the action" today, or at any point over the next month, is that the US is teetering precariously on the brink of something that feels like an authoritarian epoch. But the sheer gravity of that seems to be beyond the capacity of many market participants to grasp, let alone hedge. For their part, ING thinks Tuesday's debate
Subscribe or log in to read the rest of this content.

0 comments on “Thank God For The Technocrats

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to toolbar