Investors’ enthusiasm for Africa dwindled as commodity prices fell. But there has always been more to the Africa story than raw materials.
Articles written by Andrew Van Sickle
Investors have been talking about the end of the bond bull market for years. But it hasn’t materialised – until now.
Some analysts worry that higher US interest rates are bearish for gold. But the evidence doesn’t bear this out.
The German economy appears to be firing on all cylinders. But under the surface lurk fundamental vulnerabilities that could hamper its long-term performance.
The price of oil has now reached $70 a barrel for the first time since early 2015, and is still rising. But unless there is a serious supply disruption, it’s unlikely to go much higher.
Stocks are massively overpriced, but the benign economic backdrop suggests that the markets will march on. Indeed, the most likely scenario now, say some observers, is a dramatic ‘melt-up’.
Raw-materials prices rose sharply in 2017 – and they have made a strong start to 2018, too.
China’s internet giants, Tencent and Alibaba, have jumped into the top ten of the world’s biggest companies my market cap.
The cyclically adjusted price-earnings (Cape) ratio is an excellent predictor of long-term equity returns. And now, in the US at least, it is flashing red.
Gold was overshadowed by equities and base metals in 2017, but still rose by around a tenth. This year, however, it may not fare so well.