News this past week
- Rebound in US data
- Volatility eases in line with investor fears
- Eurozone unemployment falls to 10.3%
- Commodities post short-term gains
- Oil prices rally
Scott Gordon shares his view:
This week guest contributor Scott Gordon, a Momentum Investment analyst, provides his insight on the markets.
Since the first e-mail was sent, the internet has become a formidable institution, and perhaps Mr Tomlinson’s passing could be considered as the end of the beginning of the digital revolution. It serves to remind us of how important digitisation has become. According to the McKinsey Global Institute, cross-border flows of data added $2.8 trillion to global GDP in 2014, and in doing so made more of an impact than the flows of finance and physical goods (where growth has stagnated since the global financial crisis). If shipping barges powering through the Panama Canal are a symbol of 20th century trade, then a tablet-wielding entrepreneur in Silicon Valley – selling goods on Alibaba – might be how to picture trade in the 21st century.