Have equity markets hit an air pocket?

US indices closed lower yesterday, despite good performance by some individual names, notably Intel, which rallied 6.4% after reports of a possible investment by Apple. President Trump’s announcements regarding Ukraine boosted defence stocks globally and semiconductor stocks powered the Asian indices. Today’s US jobless claims and tomorrow’s release of the personal consumption expenditures (PCE) price index will now be closely monitored for signs of the Fed’s intentions. With gold and silver continuing to rally, Carsten Menke, Head of Next Generation Research, provides some insights into why the inflows are continuing at such a strong pace, as he unpicks central bank and investor demand.

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