• 810 days Will The ECB Continue To Hike Rates?
  • 811 days Forbes: Aramco Remains Largest Company In The Middle East
  • 812 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,212 days Could Crypto Overtake Traditional Investment?
  • 1,217 days Americans Still Quitting Jobs At Record Pace
  • 1,219 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,222 days Is The Dollar Too Strong?
  • 1,222 days Big Tech Disappoints Investors on Earnings Calls
  • 1,223 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,225 days China Is Quietly Trying To Distance Itself From Russia
  • 1,225 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,229 days Crypto Investors Won Big In 2021
  • 1,229 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,230 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,232 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,233 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,236 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,237 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,237 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,239 days Are NFTs About To Take Over Gaming?
Prieur du Plessis

Prieur du Plessis

With 25 years' experience in investment research and portfolio management, Dr Prieur du Plessis is one of the most experienced and well-known investment professionals in…

Contact Author

  1. Home
  2. Markets
  3. Other

Stock Market Performance Round-up: Dancing to the Same Tune

Factoring in last week's stock market rebound, I have put together a table of global stock markets' performances over various measurement periods and in both local currency and US dollar terms. The numbers speak for themselves and can best be summarized in a single sentence: Despite the variation in the economic impact of the credit crunch, stock markets have by and large been dancing to the same tune.

The Wall Street "leash effect" remained paramount, and stock market (as opposed to economic) decoupling nothing more than a myth.

As a result of the slide of the US dollar over the different measurement periods, the performance of those stock markets where the local currency strengthened against the greenback (pretty much all markets) obviously look better once expressed in US dollar terms (see bottom table).

We are possibly in the midst of a tradeable rally, but I do not know (and neither does anyone else) whether last week marked a major bear market low. In the words of David Fuller (Fullermoney): "The markets will provide the answers in their own good time."

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

 

Back to homepage

Leave a comment

Leave a comment