Carlsquare weekly market letter: Banks and gold remain in focus
10 May 2023
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Carlsquare Weekly market letter
- The debt ceiling debate in the US is taking its toll on sentiment. But to be honest, from a trading perspective, not much has changed in the market since last week, even with important news such as the Fed meeting and the US employment figures. Indices are stuck in consolidation, and we are waiting for a release.
- In the meantime, let’s focus on the banks, as the recent leg down may have created some opportunity.
- Gold is also seeing a resurgence as investors seek protection from inflation and macro risks.
- Despite a low valuation, including a dividend yield of 5.8%, Swedbank’s share price is not rising. However, it is finding support as shown in the chart below.
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