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27 Aug 2014
Risk-on sentiment pushes higher – Danske Bank
FXStreet (Edinburgh) - In the view of Lars Christensen, Chief Analyst at Danske Bank, a better tone in the risk appetite is slowly creeping back into the markets.
Key Quotes
“It seems like ‘optimism’ – at least for now – is winning in the tug-of-war in global financial markets between optimism about the US economy and fears over the Ukrainian-Russian crisis”.
“Or, said in another way, the global stock markets continue to inch higher and the case of the US stock markets we continue to see new record highs on a daily basis these days. Yesterday the S&P500 for the first time ever closed above 2000”.
“Yesterday data showed that the Conference Board’s consumer confidence index rose to 92.4 in August, up from 90.3 in July. This is the highest level since October 2007 – so at least for the US consumer it could look as if the Great Recession has finally come to an end”.
“Strong US data on durable goods orders also helped lift the sentiment in the US and global stock markets overnight”.
Key Quotes
“It seems like ‘optimism’ – at least for now – is winning in the tug-of-war in global financial markets between optimism about the US economy and fears over the Ukrainian-Russian crisis”.
“Or, said in another way, the global stock markets continue to inch higher and the case of the US stock markets we continue to see new record highs on a daily basis these days. Yesterday the S&P500 for the first time ever closed above 2000”.
“Yesterday data showed that the Conference Board’s consumer confidence index rose to 92.4 in August, up from 90.3 in July. This is the highest level since October 2007 – so at least for the US consumer it could look as if the Great Recession has finally come to an end”.
“Strong US data on durable goods orders also helped lift the sentiment in the US and global stock markets overnight”.