Waves not tidesJust 17 days ago investors were finally reminded, after an extended hiatus, that stocks can in fact go down as well as up. Yet if you’d been away for those few days, you might have wondered what all the fuss was about. In
Normal service?Much has been said in the past couple of years about the feasibility of having your cake and eating it. On markets, however, investors in recent years have become inured to the miraculous – until last week.When the global economy is growing and unemployment
Groundhog DayLast Friday, the US celebrated Groundhog Day, in which the North American marmot is consulted for the seasonal outlook. Punxsutawney Phil – Pennsylvania’s (and America’s) lead marmot – warned of six more weeks of cold ahead. Other indicators released the same day told a
Bottom dollarJoachimsthal (or Jáchymvok, as it has been known since 1945) in Bohemia doesn’t feature much in financial news these days, but its linguistic progeny certainly does. The ‘thaler’ (from the word ‘Joachimsthal’) was launched as the currency of Bohemia exactly 500 years ago, providing
Frozen airIn some ways, Donald Trump ended his first year in office with much to celebrate, although Saturday’s government shutdown certainly put a dampener on celebrations. Growth in the US is rising, joblessness remains relatively minimal and stocks have performed strongly. Moreover, predictions of further
Smooth runningVolatility on equity markets last week struck a 60-year low while, in the US, Treasury market volatility slipped to a 50-year low, despite yields recently creeping upwards. The S&P 500 rose by 1.37%, while the FTSE 100 and Eurofirst 300 rose by 0.7% and
Shared faith“Go into the London Stock Exchange… and you will see representatives from all nations gathered together for the utility of men. Here Jew, Mohammedan and Christian deal with each other as though they were all of the same faith, and only apply the word
Bull’s eyeThe Old English word bula means ‘steer’ as well as bull. As a verb, however, ‘to bull’ means to tell untruths or polish to a high shine. Bears might nod knowingly at the double-meaning, but the truth is that it has not been their
Diplomatic capital“The view of Jerusalem is the history of the world,” said Benjamin Disraeli, Britain’s first Jewish prime minister. Last week that history took a new turn, as Donald Trump announced that the US would shift its Israeli embassy from Tel Aviv to the ancient
Winter surge“Thou knowest, winter tames man, woman, and beast,” says Grumio in Shakespeare’s The Taming of the Shrew. Yet it cannot, apparently, tame stocks. As temperatures continued to slide last week, animal spirits persisted on leading indices, fed by glowing economic data. The MSCI World
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