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perhaps you could start by explaining what's going on with this pullback rally that we're seeing across Global equities I mean from the lows of March we've had a significant rally and all around there's been so much Gloom and pessimism what do you think is going on here well it's all about my Supply as you know the FED in the US has been trying to go back on money supply and they've been doing that and they've been raising interest rates but in the meantime there's still an awful lot of money left out there and one of the things that's happening is that people are finding that with higher interest rates they can put their money to work on fixed up deposit instruments bonds we're paying higher rate and also this extra cash they get can be put in the stock market so it's really a sort of an arrest a respite from what's been happening with the money supply so we expect money supply to continue to decline but not at the rate that it was earlier this year so would you classify this as a relief Rally or something more durable than that uh I wouldn't call it a relief rally necessarily but I would say that we're in a better shape than we a lot of people think we are simply because there's an awful lot of money being spent by the US government to begin with on such things as space on such things as semiconductors and a number of other areas so I think that means that the economy is a lot better than people imagined and as you know employment is at a good level um so you're not in the camp which believes that the U.S economy is hurtling towards a pretty bad recession because all this uh the news from the banking sector over the last couple of months LED people to believe that such bank failures typically occur before the U.S goes into recession do you think that's not the right way to think no the bank problems were simply the fact that uh interest rates went up the banks were holding long-term maturity bonds which were losing value and there was a panic created by the fear that these Banks were not able to make good on their deposits um that's over now the FED has moved in very aggressively uh to help the banks and they have supplied money to the market in order to ensure that happens uh that has nothing to do with the help of the economy health of the economy is really based on what's happening in the industry and service Industries as well and with the government spending an awful lot of money in a number of directions and with unemployment at a relatively low level we think the U.S economy will do fairly well this year and would that translate into a positive return from the stock market tool you think because I mean till even last month most analysts seem to believe that this will be a difficult year to make any kind of positive returns from equities uh well the stock market actually reacts ahead of what's happening in the economy and of course you know uh they were expecting a downturn as a result of these problems with interest rates so the market already has had this correction I think going forward the market is telling us that it's not completely certain that the economy do well doing well but they're certainly not telling us that the economy is doing badly because you can see the market has recovered a little bit and there's sort of a sideways movement in the market which indicates that the expectation is that the economy will do fairly well going forward if you like the video do like comment share and subscribe
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