pH Outlook

Market bubbles start to burst

Oil prices have tumbled back to June levels, whilst the call option favourite Tesla has seen its price crash 26%. And the eurozone moved into deflation.

Central banks create a K-shaped rebound

The US is seeing a K-shaped rebound. Fed support meant the S&P 500 made new all-time highs last week. But 20% of US adults told the US Census they couldn’t afford to buy enough food to feed their children.

Global economy suffers second hit

China is now being hit by its worst floods in decades. And Covid-19 virus cases are surging in a number of major US states.

“We’re forever blowing bubbles”

Central banks have created impressive bubbles in financial markets – but what will happen if the promised V-shaped recovery never appears?

Markets risk a Wile E Coyote moment

Mr. Coyote used to run off cliffs and take several steps on thin air before noticing that there was nothing underneath his feet. Only then would he plunge..

Always read the small print

Wall Street investors missed the fact that Friday’s US jobs report misclassified up to 4.9 million workers as working, when they were actually jobless. But that’s what happens when you ignore the small print.

Volatility highlights rising uncertainty

Volatility has spiked this month, as always happens when markets go through a period of major change. Time seems to speed up, as old certainties are discarded, and everyone tries to work out where we are headed next.