§ many predicts that widely expected “major correction” is unlikely to occur
over the next two quarters. Global equities will continue to “surprise
everybody” by moving in a steep uptrend without any significant disruption till
the end of the year.
§ The first part of this year’s stock market rally was driven by a technical
rebound from depressed levels. This second part of the bullish upswing, from
April to June, was spurred by “a cycle of hope”. Now, during the third phase,
equities will be impelled higher by the massive cash hoard of under-invested
investors re-entering the markets.
Institutional investors who had been underweighting equities will be “forced
back to the markets” because they missed out on the recent gains and are now
eager to capture any further upside in global stock markets to boost their
performance by year-end.
§ The emerging markets of Asia and Latin America, given their ongoing
resilience in the global downturn as well as their solid fundamentals continue
to be Keitel’s core equity overweight positions.
Thank You!
ThomaS FredericK
