Good morning everyone
Bit of carnage on the screens this morning. Was a shock to wake up and see the Nikkei off 7%. It was only last night I was chatting to Adam about whether these high levels in stock markets can be maintained.
I know this fall was because of an “event” but stocks are going high very quickly and that’s a very dangerous scenario.
Anyway, up at 08.30 gmt is the UK Q1 GDP revision read.
If the figure is revised down then talk of a UK recovery will take a dent somewhat. As usual we’ll see the devil in the details. Famous last words but, there shouldn’t be too much market reaction unless the revisions are way out.