Monday, 28 September 2015

Financial Orbit wrap 28/09/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. IMF global forecasts – linked with the above wave of global lower interest rates, IMF likely to downward revise its global economic growth forecasts.  Lagarde: "A forecast of 3.3 percent growth this year is no longer realistic. A forecast of 3.8 percent for next year neither. We will however remain above the 3 percent threshold,"

2. Flow of money – via front page of the FT: ‘Saudi Arabia has withdrawn tens of billions of dollars from global asset managers as the oil-rich kingdom seeks to cut its widening deficit and reduce exposure to volatile equities markets amid the sustained fall in oil prices’. Could be an important flow of funds influence on the markets/they will not be the only ones


3. I thought that Vodafone would be the big corporate story after their discussions with Liberty Global broke up (link here)...but then there was the Alcoa split announcement...



4. ...and the crushing of Glencore (-29% on the day).  

equity trashed as worthless by one broker

One I want to write up...watch out for this over the next 24 hours. 

5.  Sentiment shabby as many believe markets are overvalued...


...sounds like a stock picking market still to me! 

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