Today’s new fun
Oil leapt to a new record high near $142 a barrel on Friday, extending gains after surging nearly 4 percent in the previous session, as tumbling global stock markets triggered a wider commodities rally…World stocks fell…hastening the rush of investors’ funds into commodities. “It has a lot to do with asset allocations. The equity markets are under serious pressure, breaking support levels. When equities are going nowhere, the money is parked into commodities,” said Olivier Jakob at Petromatrix.
Because they’re so safe, right?
June 27th, 2008 at 11:46 pm
Becasue they’re so safe, right?
Once upon a time, people who didn’t like the looks of the stock market would liquidate into bonds or cash and wait for the storm to pass.
Today, is there any stable asset class in which an investor with a global perspective can take refuge? If not, is this the first time in modern history that such has been the case? What are the implications?