The Weekly View November 27th 2018
Comment of the Day

November 27 2018

Commentary by Eoin Treacy

The Weekly View November 27th 2018

This note from Rod Smyth at Riverfront may be of interest to subscribers. Here is a section:

Global stocks are reflecting slowing economic date in Europe, Japan and China, and are anticipating the same for the US as the stimulus wears off and higher interest rates start to slow demand for housing and autos. The chart pattern also suggests to us that investors are building in an increased probability of a global recession. We are more positive and believe that there is a good chance that global stocks will bottom around these levels as value investors are likely able to find what the see as bargains at current levels. We too are looking for opportunities where we believe investors have become too pessimistic.

Eoin Treacy's view

I don’t tend to look at the MSCI World very often because it is heavily skewed towards the performance of the largest companies with a clear overweight in the USA, followed by China. However, it is a global benchmark for many asset managers and therefore its performance represents a significant input into their thinking.

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