‘Thoughts from Jackson Hole…we are still in a hole’
The temptation for even the most committed of financial professionals to sneak off away from their desks and financial information terminals would have been very high last week if it had not been for the start of the Jackson Hole summit. Mario Draghi stole the show despite a second tier billing indicating again that what is happening in the European economy does matter no matter where you reside. We stay in interesting times…with all the positive and negative connotations that this observation brings.
So what have been my highlights of the last week?
· Draghi’s last chart indicates these are not normal times;
· Still…it was ‘risk on’ time (again);
· High sector valuations and geopolitics: shrug the shoulders;
· Job security…and mortgage affordability;
· China will bail us out, won’t they?;
· Back to the start: we are in a hole
Feel free to contact me on any aspect of the above…or anything else in fact.
Founder, Financial Orbit