Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Thursday, October 10, 2013

Update DAX, FTSE

Still twitchy markets, hanging on political situation in USA

DAX daily

Despite all the political turmoil in the USA, the DAX has been very resilient and the down move least pronounced of the European markets.
It seems to suggest that actually the recent down trend is just a correction, and once the political scene in the USA is resolved (which it more likely will be), markets will attempt new highs.  QE likely to continue.

FTSE daily

The FTSE has corrected more sharply than the DAX and has nit made all time highs yet, possibly due to strength of the pound in recent weeks, plus a hit on retail sector, and mining.  QExpecting that more liquidity around the world will eventually raise inflation expectations and tangible assets will rally.

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