The mystery of rising stock markets.

The Dow, FTSE etc have risen by 20% since the third week in March. They have risen despite dreadful profit forecasts and the worst GDP figures since the Great Depression in the 1920s. Why?

The answer is simple. There is almost nowhere else to put money so you might as well invest in Government Bonds and the FTSE. The amount of money in circulation is growing at a ferocious pace with central banks vying with each other for the largest bail out packages for their economies. This is new ground, never before have governments sanctioned pouring such bucket loads of cash into the system.

Much of the money is being borrowed but this is safe so long as it does not go on for too long. How long is too long? Good question.

28/4/2020

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