Chanticleer
Small caps’ wild EOFY ride exposes market’s dirty little secret
Monday’s list of worst performers looked like Friday’s best performers turned upside down. It was laughable.
A weekend is a long time in small caps. Half of Friday’s 10 best performers were also among Monday’s 10 worst performers, suddenly falling out of favour on little or no news.
So, what happened? Nothing; there were no big moves on Wall Street, no outbreak of war, no OPEC meeting threatening supply cuts, no damning global economic growth numbers and no big move in bond yields or the outlook for interest rates. The world is still largely as it was at 4.10pm on Friday.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles