There's a bull market in uncertainty
It's been a volatile start to 2016 for the markets and the only thing we seem to know for sure is that no one knows anything.
In a note to clients, UBS' Julian Emanuel highlighted the following the chart which shows the increase in the number of stories on Bloomberg that contain the word "uncertain."
Whether its currency moves out of China or the Federal Reserve's next interest rate decision, the overriding narrative in the market has been the certainty of uncertainty about what happens next.
Emanuel writes that, "the media have fed the uncertainty beast vigorously," leaving with views like those expressed by Horseman Capital's Russell Clark, who wrote in a recent letter to investors, "The future for me is now more uncertain than at any time I can remember."
UBS
- Singapore Airlines was ordered to pay a couple compensation for 'mental agony' after they complained their business-class seats didn't automatically recline
- Welcome to the white-collar recession
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- Markets trade firm in early trade as GST revenues hit record in April
- Blockchain in Supply Chain Management
- Rupee turns flat at 83.43 against US dollar in early trade
- LS polls: EC increases polling time in Telangana in view of heat wave
- US Fed says further interest rate hike unlikely going ahead