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Bloomberg/Gillian Tan and Nishant Kumar/5-10-2022
“The reversal marks a seismic shift underway in global markets as soaring inflation forces central banks to end quantitative easing and raise interest rates. That has led to a selloff in markets with growth stocks, led by the technology sector, falling further in a setback for equity-focused hedge funds.”
USAGOLD note: More fallout from what Goldman’s Peter Oppenheimer calls the postmodern age of investment. “They don’t ring a bell,” he says, “when the rules of the game are changing.” The sudden influx of money into the bond market over the past few days could be an early sign of a general flight to safety. Blackrock’s Alister Hibbert (the aforementioned $100 million London trader), in this respect, might be ahead of the crowd.
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