It’s still a bear market

Monday, 19 September 2022

The Market Ear with its latest.

We should test the lows later this year

There are many reasons to believe that we will revisit the lows later this autumn. Overall tactical & macro backdrop just do not add up to the ultimate bottom. We can bounce small this week – we list some observations on why this is at the end of this email – but overall medium term view is still bearish.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.