“There’s no transactions, M&A doesn’t need to happen at this point the banks aren’t lending anyway, companies don’t trust the banks anymore as they don’t believe they have credit line and this is what deleveraging looks like,” Peter Toogood, director of investment, Old Broad Street Research: “this is what everyone chose, don’t be surprised that this is the result”.
I agree with the meat of this assessment, although I doubt that stocks have yet fully discounted the new, lower growth environment. Once that happens however, I think cash will have good reasons to move back into income paying equities.Here is the direct link.
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And it is an auction marketplace, where everything sells for what it is worth–at that time. Perception becomes reality. And the reality is beginning to sink in that growth is diminishing just about everywhere you look, and that the golden cupboard may indeed be empty when you need your money snack, and you’ll just have to learn to do without. How rude!