Sunset Strip - 28th August 2020
Local market fell from the start with global investors boosting it in the middle before another slide back lower.
Japanese market rolled over form slight positive to decent negative territory as the PM resigned. There were big portfolios lines going through the market ahead of the weekend and as the month end gets closer. It was all about the US Fed last night and as expected they are going to ignore inflation. There is only one solution for markets now…EU and US will be in endless money printing like Japan. If money printing solved all the economic problems, why wouldn’t everyone do it? because it doesn’t work and it leaves a bigger mess later. US economy continues to roll over towards double dip recession with election uncertainties, unemployment weakness and no fiscal stimulus deal. US$ remains the main candidate to face the economic mess. The best three performing sectors were Property, Banks and Industrials while the worst three were Tech, Telecom and Materials.
Remain nimble, contrarian and cautiously pragmatic with elevated
global macro risks!!!
Bubble is in the eye of the beholder...
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