We still think bull market’s not over

Genevieve Signoret

Equity

We hold to our view that, because rates will stay low for long, the stock market bull run is not yet over.

China’s stock market continues to defy gravity. It shows what we have often mentioned here: macro performance and market performance need not coincide.

Brazil’s stock valuations are a temptation, but we prefer to not aim for the bottom (who can know where it is?) and instead await some sustained upward momentum.

Mexico’s stock market is trending sideways. Either peso appreciation or stock market appreciation would help. We think they’ll happen concurrently. If we’re right, the effect could be explosive.

Remember that all the stock price movements here are shown in U.S. dollar terms.

China’s stock market continues to defy gravity

Timing’s still not right for buying Brazil, in our view