there is no stability right now “- Swedish Dagbladet

Occasionally down closer 2 percent – and then clear up. Stockholm Stock Exchange continues even today, Thursday, to bid on the new mood swings.

After almost tokrusat since the beginning of the year and set a peak of plus 19 percent in late April, now remains roughly only half of the increase. And more turbulence is to be expected, believes financial analyst Peter Malmqvist who call listed rush for “historically extreme”.

– We are in the extremes of all financial scales, and it has pushed it to extremes on the stock exchange. But now the train turned. There is no stability right now, says Peter Malmqvist.

It’s not just in Stockholm as the stock market falls, even the world of visible red figures – an effect of rising market both in Sweden and internationally. Since April 27, when the stock market fall began, the yield on a ten-year Swedish government bonds nearly tripled. The rise in long-term market speaks according to Peter Malmqvist for a continued decline.

– It is clear that one can say that this would not matter so much, but you can be scared of the stock market when they go up. It is a psychological indicator, says Peter Malmqvist, noting that “the automatic inflow to the stock market is slowing down” during the last days of decline.

Many people have set themselves puzzled by the recent the rise in long rates. With today’s moderate or weak growth in the world’s interest rates rise backwards.

Anders Roslund, an equity analyst at Swedbank, contributing a possible explanation. According to him, many investors in Sweden and Europe for a time, buying US debt securities when they thought of rising interest rates in the United States. At the same time, they hoped for a price gain by rising dollar. They are therefore expected to serve both the interest rate and the exchange rate. But now spreading concerns about weaker growth in the United States, which has led investors to sell their US debt securities, and instead invest in European interest rates.

Anders Roslund look also other explanations increased nervousness in the market.

– The economic upturn must be done at the right pace, otherwise it raises the central banks interest rates, and it should be dismissed exchanges. Investors want to see an economic upturn, but with continued stimulus, says Anders Roslund, but that also looks argument for a continued strong stock market.

– We see increased growth and we have low interest rates, that is exactly what the stock market need, he says.

Viktor Henriksson, manager at Carnegie believes that the stock market is overvalued. Although he points to the weakening dollar and the rising long-term interest rates. Another factor is the very moderate growth.

– Hopes of a better economic climate has long attracted the stock market upward. But now we see fairly weak economic figures. Many quarterly reports have shown that there is a strong dollar, not strong companies, which have given prizes. If growth comes by itself we will see a public event, says Viktor Henriksson.

At the same time, he points to a strong case for a rising stock market.

– We have extremely low interest rates and the industry are doing well the krona is weak in a historical perspective. The European Central Bank is continuing to stimulate the economy and we have less interest in Sweden, something that will last long.

Even the Swedes personal favors stock market.

– View on house prices, car sales and the full restaurants, people have money.

At the same time, a decline lead to increased interest in the shares.

– The decline has been rapid and the valuation of some shares start to look interesting. In addition, for example, banks benefit from if interest rates rise a little. And the companies that make purchases in dollars, for example, the H & amp; M is favored when dollars become weaker, says Viktor Henriksson.

Mattias Eriksson, , equity strategist at Nordea says that now, in a period between quarterly reports, will be more focus on macro data. And there expecting the stock market and more signs of economic improvement in Europe.

– It has priced in an improvement, if it fails, it may push the stock exchanges, says Mattias Eriksson.

He also says that there is a certain nervousness about the expected interest rate hike from the Federal Reserve.

– Shares goes well as long as interest rates are depressed, he said.