A trader on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 27, 2022. Money managers betting on a sustained global rebound will be left sorely disappointed in the second half of this crushing year as a protracted bear market looms, even if inflation cools. Photographer: Michael Nagle/Bloomberg , Bloomberg
Bloomberg: Raging Markets Selloff in Five Charts: $36 Trillion and Counting
(Bloomberg) -- Whether super-safe US Treasuries or the riskiest emerging equities, global stocks and bonds have lost a record $36 trillion in value over the past nine months in a wild selloff that engulfed assets right across the risk spectrum.
With the year heading into its last quarter, there is likely more pain ahead. Central banks are in full fire-fighting mode, making clear they intend to raise interest rates further to douse inflation, even if that leads to economic recession.
From the look of it, one could be forgiven for stashing cash under the mattress. Indeed, in the latest Bank of America Corp.’s fund manager survey, participants said their exposure to cash was at all-time highs.
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WNU Editor: And the shocking thing is that these losses are not slowing down.
1 comment:
The market started going up in the last months of Trump's residency. The Old Fart blew into the White House on 20 JAN 2021 and claimed credit. Then the market went down after Old Fart canceled Keystone XL and other dumb moves. Old Fart does not brag so much about the stock market any more except once in a blue money when there is one step forward. He does it before the 2 steps backward come about.
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