Thursday, 12 November 2020

Weekly links

Earnings season rumbles on...but that's not the big story of the last few days however.  As I noted in a piece I wrote for a third party: 

Most investors understand that there is highly likely to be a more balanced and less skewed financial market if the global macroeconomic backdrop is overtly stronger. However, despite the best efforts of policymakers with their stimulus efforts, this is only going to happen with stronger hopes of pandemic control. And, therefore, news earlier in the week of a potential treatment breakthrough induced a marked rotation in financial markets, towards equities with a more cyclical and/or financial nature, and away from areas which have been perceived as great beneficiaries of a more work-from-home or technology-centred economy, as well as naturally more defensive areas such as government bonds or gold.  

Watching the fixed income markets is usually a good idea for even equity-focused investors. The financial markets should always be perceived as a relative attractiveness compare and contrast story. The key for understanding if equity market rotation is currently at the end of the beginning or the beginning of the end is wholly centred on the fixed income markets. 

Keep watching my Twitter feed @financial_orbit and naturally the markets themselves for more on this! 

Elsewhere, I appeared on the Vox Markets podcast here to talk about recent markets and UK reporters...

...and on the ShareProphets website the three favourite articles that I wrote during the week were...

RSA shareholders should bite the hand off the cash bid

DCC – still boringly successful but now at a cuter price!

One in the eye for global chavs as Burberry promises to cut discounting

...which you can read here, here and here.  


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