Reminds me of what one of the Chase Corp fish heads said after the 87 crash , The market is well and truly -ucked , does the same apply now ! ?
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Reminds me of what one of the Chase Corp fish heads said after the 87 crash , The market is well and truly -ucked , does the same apply now ! ?
just had me nap and been for a walk , looks like tonight maybe ( but who really knows ) might get a test maybe
futures heading that way at moment
just catching up with local news see the RBNZ said they have listened to us winner and might need to raise rates to 6%
https://www.newshub.co.nz/home/money...e-meeting.html
I think this very different to 87 or 2008 for that matter. I.e valuations aren't nearly as high as they were then. Fundamentals are actually quite strong & if it wasn't for inflation the markets would be in an upward trajectory.
The big change is obviously interest rates particularly in the Northern Hemisphere where they had near zero rates for significant periods of time & QE increasing credit liquidity.
Now you have a squeeze on liquidity and cost of funds is up something like 400% I.e from 1.5% to now 6ish%.
So markets don't have a free put anymore.
Some mega caps are sitting on huge amounts of cash do they will get some benefit from higher interest rates, although consumer demand should be reigned in.
Overall I see markets still heading lower.
US indices are roughly down 10% give or take.
I could potentially see them losing another 10% but I don't see them going much lower than that and perhaps not even that much.
Subject to not seeing something from left field.
Other markets are following Wall Street. Still there could be one last hurrah before the big sell-off.
Yeah agreed. If you get the chance let me know what you think of Jackson Financial, the stock looks very cheap to me. 2.7 non-GAAP Forward P/E, 7% dividend and nearly 20% of the stock bought back over the last couple years.
I created a thread on the US markets sub-forum if you (or any other poster) want to discuss it.