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Essay heading: Grand Fromage
Essay specific features
| Issue: |
Business |
| Written by: |
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| Date added: |
June 6, 1997 |
| Level: |
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| Grade: |
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| No of pages / words: |
9 / 2440 |
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0 times |
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Essay content:
The reason for all this cheer was the rally in the global markets. The
S&P500 rallied 5.17% last week, and has put on 8.03% since January 20, 2009. The NASDAQ
Composite has done well as well. Emerging Markets like Brazil have been standout performers,
while China Shanghai and H-share Index have been on a tear of sorts...
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Petrobras is up 65%, Gerdau
is up 49.5%, CVRD is up 65%, BHP is up 77%…the commodity-linked plays have rallied well.
Baltic Dry is up sharply from its lows.
So what should you be making of all this? Dawn of a bull market?
Well, here’s what I think it is: everybody is punching the air because of this restocking thing…but
I find this strange…after all, fact is, most producers ran inventories down to zero...
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