Global stocks have swept higher since the start of this year,

... defying almost universal expectations of a decline and stirring fears that complacency has been setting in among investors. 

This week suggested those fears are well-founded.

 The volatility marked a sharp contrast with the atmosphere barely a week ago, when consensus was converging on optimistic predictions that central banks were almost done lifting interest rates and the Federal Reserve was on track to deliver a soft landing — the rare feat of bringing inflation under control without causing a recession.

Financial Times 4 August 2023

https://www.ft.com/content/7de2427f-8890-49f5-94b1-0287fc31d549


31 July everything was go, go, go.

Sentiment shift in the market, Bloomberg  wrote.

Then, the next day, the slide began.

https://englundmacro.blogspot.com/2023/08/31-july-everything-was-go-go-go.html


Sentiment shift in the market

Hedge Funds  almost everyone started 2023 defensively before being forced to adjust to the gravity-defying advance. 

Hedge Funds ‘Throwing In Towel’ on Stocks as Rally Forces Unwind

Bloomberg 31 July 2023

https://englundmacro.blogspot.com/2023/08/sentiment-shift-in-market.html



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