Market strategists reassure investors worried by the recent sell-offs
Rates are only rising because economies are doing so well and there is no need to panic, even if risk assets do sell off, at least according to the sell side.
There’s nothing like a rolling bear market to sort the wheat from the chaff among market strategists.
An anxious Euromoney has found calm amid the recent bond and equity market sell-off in the excellent notes many banks have kindly sent to help us through.
Citi’s private client strategy note certainly bolstered us on October 11.
“The drop in global shares in the past 24 hours is following the course of many routine corrections that have been followed by recoveries,” Citi told us, just as we were reaching for the phone to tell our broker to sell both shares in the portfolio. “Routine” sounds comforting. “We don’t advise properly diversified investors with multi-asset class portfolios to sell into such a disorderly panic,” Citi said.