February was cold, but mercifully dry. The days are becoming a welcome bit longer. London is filling up again, post covid, though Mondays and Fridays remain subdued to put it mildly.
Market movements in February
In the markets, February started strongly, but then something clicked mid month – something I will call inflationary gloom. That inflationary gloom has tempered markets considerably. The VWRL graph below tells the story – especially when coupled with the GBP:USD yellow line – showing how the GBP dropped 2% early in the month.
We ended the month with the USD up 2%, USA stocks and AUD down significantly, FTSE up, and bonds everywhere down.Continue reading “Feb ’23: taking profits”