SIMON BROWN: I’m chatting now with Simon Fillmore, who is CIO at Independent Securities. Simon, I appreciate the early morning time.
And our anticipation is that that 6.5% we saw yesterday will just continue to fall as we get more and more data over the next couple of months. In turn I think the Fed will have to reappraise the hawkish stance that they’ve taken, and they don’t want to be too destructive in terms of economic growth.
If inflation is coming down input costs are coming down, and that can only be positive for margins in companies, which in turn is supportive for their earnings. SIMON BROWN: It was almost weekly. This week it was Salesforce, last week it was Amazon. And so it goes. There are a couple of interesting statistics around that, where it’s very rare to get two bad years in a row. In fact, it has only happened three times over the last century. So we think because of that we are unlikely to have a repeat of last year. And then there’s also some other quite fascinating statistical data on the first few days in the market.
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