Thursdays Market Perspective
Well that was quick. Can the Italians get at least the same respect as the people in the U.K? The Brexit collapse lasted almost two trading sessions. Here we are just one day after Italy filed for Chapter 11, and the markets are already recovering their losses. One day? That's it? Of course we knew it was going to be a fugazi.
Another new record high was achieved yesterday for the market, of course what followed was a fairly dramatic decline in the technology sector, with some of the biggest names taking the biggest tumbles. Perhaps technology took a peak at the 'upside down'.... a strange world where the price of equities trend lower, not higher. Yet like the other nasty tech sell-offs we have seen this year, the buyers resurface the next trading session and record high prices return.