What is it that makes markets?

The FT message is, in that case, that markets are significantly more optimistic that the UK is over Covid than they are that the EU is. I would, of course, describe that as misplaced optimism. I am not alone. As the FT also notes in the same article, this is sentiment and not fact, and sentiment might be misplaced,

Quite so, it is differences of opinion that make markets. Which is why we use them of course rather than having a King Spud who tells us all what to do.

3 thoughts on “What is it that makes markets?”

  1. Of corse it’s sentiment that drives markets. Markets discount the future, and the future has no facts in it because it hasn’t happened yet.

Leave a Reply

Your email address will not be published. Required fields are marked *