Markets are sharply higher from their recent lows

Equity markets worldwide have rallied nicely from their lows in mid-June and early July. The S&P500 is up 13% and the JSE All Share is up 6% from their lows. For the year to date, however, we still have to see the markets go up the same amount to get back to positive figures. It […]

Things are getting better

It may not feel that way, but things are getting better behind the scenes. To use that overused proverb: “It is always darkest just before the dawn”. If we look at some of the indicators, we can see that mortgage payments are rising in the USA (see graph), which will translate into a cooling of […]

Markets are in a holding pattern

We are in June and equity markets worldwide seem to be in a holding pattern. The JSE All Share index is -4% for the year to date, compared to the S&P500, Europe and China all at -12%. The worst performing large-cap share in SA is Prosus at -41% and the best is Sasol at +64%.  […]