Summer holiday lethargy lies thick across developed-world markets, writes Jeremy Thomas THAT lithe, brown, salt-encrusted sylph was me, in my mind’s eye, just 10 days ago: dumb with sun and blinded by brine — much like most market participants in the northern hemisphere at present.Summer holiday lethargy lies thick across developed-world markets — volumes are down, volatility is flat, and the tick-up in major stock indices has more to do with the languid flicker of algorithms than with bullish animal spirits.It will probably stay that way until the end of next month, when asset managers return to work. Then, the northern autumn, is when the bears say reality will bite. But until that season of malcontent falls upon us we might as well make hay.Deon Kohlmeyer of RMB Global Markets reckons South Africa is “seeing the positive effects of the disinvestment of Russian assets into our local bonds ... it is quite difficult to construct an argument about why the bond market cannot sustain a...
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