Spreadex Market Update
Equities are enjoying strength once again
Equities are enjoying strength once again, recovering nearly all of the losses seen since selling off on November 29th when investors panicked that the global economy would not be able to cope with U.S tapering. Traders are seemingly convinced that there is enough sustenance in this recovery to maintain any progress made and not fall back into a recession. The fact that central banks have added more than $8 trillion to the value of global equities this year has gone a long way in shoring up the economy.
For bullish market participants who have managed to stay calm and ride out this recent bumps, the likely hood of further gains now seems more realistic. We keep being reminded that traditionally, December is an exceptionally strong month for equities and many opportunistic investors will still be banking on a Santa rally.
Bank of England governor Mark Carney has given all Brits reason to cheer after declaring that the economic recovery is showing positive signs that it can reach self-sustaining momentum. Carney said that he was confident that monetary policy was gaining traction and that a 'liquidity trap' had been avoided, whilst maintaining the view that monetary policy will need to remain exceptionally loose for some time to come. The BoE, amongst other methods, has held interest rates at 0.5 percent since 2009 & bought 375 billion pounds' worth of government debt to get the recovery going.
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