Last week saw a succession of fundamental shifts in how the global economy is working: inflation, China’s reopening, western politics, crypto, Climate Change, Tech stocks, and in Ukraine. These all have significant potential market implications.
Yesterday’s events across Tech served to remind us it’s a fluid sector where what we believe one day may be false the next, but deep down there is bedrock. Crypto currencies saw a last-chance bubble pop, while Tesla genuinely surprised me by producing solid results – which don’t for one moment change my perspective its fatally overvalued. Meanwhile, the latest China clampdown on listed stocks shocked markets, but reminds us we need to think differently about the wakening Dragon.