Gresham's Law

In a recent post, we jokingly noted that:

the guy on the front page of ft.com is only looking worried... We will know when the bottom is in because there will be guy with his head in his hands and a ticker screen behind him with a sea of red!

Well… excepting the part about the red screen (there are downward pointed charts instead), here it is:

Click to enlarge. Source: ft.com

The markets have clearly moved down rapidly over the past week or so. Timing daily fluctuations really isn’t our thing, but maybe it’s time for a bounce of some sort… ?

EDIT: Actually, it turns out that the bbc news site has been even more accommodating to our expectations:

Picture from bbc.co.uk