The first two months are the best start in 15 years.
The dotted right and went into the stock market at the turn can sit back. The increase from the end of 2014 has continued. A total of 15.4 percent at the end of February, giving the fourth largest increase for the period January to February 1981, according to statistics Nasdaq OMX developed for the TT.
There is a year that stands out extra, 1983 when the increase was 38.5 percent. Otherwise trumfas year’s increase just over two occasions, in 1991 and 2000.
The explanation for this year’s rise is simple, historically low interest rates are driving up stock prices and you can also see similarities to earlier gains.
– It has been at all these occasions been very good access to capital, a “capital bonanza”. The difference this time is that it feels a little shaky, says Anders Ögren, Associate Professor of Economic History at Lund University.
– Swedish households now have a debt ratio of disposable income, which is well above the US before it slammed where (2007-2008). If you continue to feed it here, will it go?
TT: When will it be a stock market bubble?
– The classic definition of a bubble is when you do not care about key figures without speculating only on psychological factors that you think people want to buy this to a higher value. If you look in the broader perspective of asset markets, so yes – I think there is a bubble.
Lars Magnusson is professor of economic history at Uppsala University:
– 90′s events were quite specific for Sweden, something similar was not at all the same in the rest of the world either rise or fall. We sometimes speak of Sweden as the “Land moderate” but we can get extreme values and that is what is going a bit now.
One thing is certainly clear. Once the pendulum swings back are the losers obvious, namely mostly small savers.
– They do not have time to duck and did not have enough investment options, so it is clear, says Anders Ögren.
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