‘Value’ to cover all eventualities, argues Paul Warner in his latest article for FT Adviser.
The list of factors that could mean that October was the beginning of a buyer’s market is a lot longer. We have US President Donald Trump versus China and the imposition of tariffs and a continuing trade war.
Then there is Brexit, Italy facing down the EU, the rise of populism politics around the world and all the uncertainty that that creates.
Then, of course, we have the ending of one of the biggest financial experiments the world has ever seen. Quantitative easing (QE) is slowly turning into quantitative tightening (QT), with only the Bank of Japan being the last one going. Some irony, since they were the ones that started it.
Whatever your view, it seems likely that markets will be volatile in the future.