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Good news, all trends are back in the green! Be careful though because the valuation levels of some indices are breaking records. I am thinking in particular of the Swiss and American markets which are at historic highs. Technicians will tend to jump on them because we are in a zone free of resistance, while fundamentalists will rather want to flee because of the exuberance of the markets.
What is interesting is that in this generalized bullish phase, we find indices that have become attractive, even very attractive, due to the last correction. European and English stocks, for example, are currently correctly valued as a whole and are following a very pronounced upward movement. In Canada and Australia, we are in a similar configuration, but the valuations are less attractive.
As in recent months, emerging countries are particularly tempting at the moment, with both a strong upward trend and really affordable prices, not to say knockdowns. Significantly, what I have been waiting for for months has just happened, Japan has now joined the emerging countries in this "Select" club of bullish and very cheap indices. I will be relaunching my screeners in the coming days to find, I hope, several nuggets.
Au niveau des autres actifs, c'est le statu quo. Les obligations à long terme de la Confédération sont toujours inaccessibles du fait des taux négatifs. L'real estate, ma seule allocation permanente, bat le SMI ces six derniers mois, avec une performance de plus de 9%. Les stratégies alternatives sont toujours dans l'attente d'une chute du marché américain et l'or s'amuse a faire du yo-yo dans un trading range assez restreint, mais avec une tendance toujours haussière.
The general return to favor of stocks means that the target reserve of liquidity continues to fall, at now 7%. I am still at 35%, but I have no doubt that I will become a spender if I come across beautiful Japanese cars on the road...
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I hope you find some Japanese companies to put all that cash to work. It's true that it's currently an interesting market both in terms of valuation and trend.
So far my screeners have come up with a few names but nothing interesting yet that I have been able to confirm after analysis.