Market Ethos - Why is the market so happy?


The tech tilted NASDAQ has risen +20% since mid-June. Still materially down on the year, but a 20% rise over seven weeks is both significant in the size of the advance and duration. Other markets, which were not down as much, have also risen nicely. S&P +14%, TSX +8%, Europe +11%, Japan +10%, Canadian bonds +5%, US bonds +4%, US high yield +5%, US long bonds +8%. This market recovery has given rise to many questions: is the bottom in, or is this a bear market rally? Or even more simply, why is the market so happy?

In this week’s Ethos, we look at the four key drivers we believe are providing a tailwind for this market.

Click HERE to access the report.