This Saturday, the 14th September, will see the running of the St Leger at Doncaster, which of course is the horse end of the rhyme “sell in May and go away, and don’t come back until St Leger Day.” As an investment rhyme it is about as reliable as trying to bet on the winner itself.
The past few weeks have seen markets react to apparently even the slightest hint that their current stimulant of choice might just start to be restricted in its supply in the USA. The Quantitative Easing (QE) programme has certainly been a catalyst to push more money into the equity markets and has provided a level of confidence that was definitely missing just three years ago. However, the market fears that any sudden withdrawal would erode all of this swiftly and we could return to those fretful and volatile markets of that period.
