COMMENTARY
·
SUBSCRIBERS
The US political catalyst for stocks is over; the market rally probably isn’t
Add BT as a preferred source
Published Mon, Jul 31, 2023 · 05:00 AM
DO YOU believe in miracles? You should. Stocks worldwide, including those in Singapore’s benchmark Straits Times Index (STI), have just reaped the huge spoils of one – and they aren’t done climbing.
In September, I told you global stocks were approaching a bullish seasonal sweet spot – the nine months framing America’s midterm legislative elections. This has consistently been the most profitable stretch in stock market history. I call it the midterm miracle.
Indeed, the stock market didn’t disappoint. Sector skew and overblown China-fretting limited STI gains, but even it bounced off October’s low.
