MarketsEquity MarketsSharemarketPrint articleAnalysisThe sell signal in the market that no one is paying attention toJonathan ShapiroSenior reporterMay 14, 2025 – 12.29pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginA month is a long time in markets. In the age of Donald Trump it’s an eternity.Just four weeks ago, Bank of America’s widely followed global fund manager survey was among the most bearish on record as investors feared that a prolonged trade war would result in a value destructive recession.Loading...Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreSharemarketInvestingBondsWorld marketsAnalysisJapanLatest In Equity marketsFetching latest articlesMost Viewed In MarketsThe Australian Financial Review MagazineThe 25 new watches you need to know nowLuke Benedictus and Bani McSpeddenWhat OpenAI’s Sam Altman suggests you do to keep your jobThis Australian watch reseller is making its move on London and NYCBOSS Financial ReviewThe 5 tips that stuck with 2025’s BOSS Young ExecutivesHannah Tattersall, Rachael Bolton and Sally PattenHow a divorce at the age of 36 turbocharged this leader’s careerThe 3 traits that stand out among this year’s BOSS Young ExecutivesLife & LeisureThe most dangerous wine in the worldMax AllenWhy Maserati is bucking the EV trend with this supercarNothing is as good as the controls on these high-end headphonesRich ListCrypto billionaire invests millions to build Australia’s ChatGPTPaul SmithRich Lister Walker family donate millions to Sydney cancer centreChina provides reality check for Forrest’s green iron dream
