Monday Macro – bear market reversals, grey rhinos, investment black holes

Echoing my Citywire column this week I wonder whether we are in a bear market reversal. Plus, what’s the smart investment strategy when everything looks snookered

Programming note – I’ll be away on holiday from June 4th June 18th. I’ll still have a single weekly edition next week (on Wednesday 8th of June) but won’t restart until Monday 20th June.

So, I think we can safely say investors are buoyant mood again. The chart below is from the French investment bank SocGen and looks at their internal, proprietary sentim…