Buckle up because global markets are in for a bumpy ride in the days and months ahead
Financial market gains, they reckon, are built upon a wall of worry.
While there has been much to celebrate in the past year, with the sharp burst out of global recession fuelled by rapidly developed vaccines, the optimism suddenly seems to be evaporating.
Investors have slammed the brakes on the incredible surge on global stock markets that began in March last year.
Australia has been among the hardest hit, as crashing iron-ore prices have exacted a heavy toll on our biggest miners.
Problems, however, are emerging on a number of fronts. And it’s not just the toll the Delta variant is exacting on growth.
In no real order, they are as follows: the disruption to global trade from shipping constraints; a rapidly emerging energy crisis; serious concerns about China’s property market and its entire growth model; and an escalating dispute within the US Congress that threatens to destabilise…