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MARKETS: More upbeat earnings, market rotation, and tech woes



Last year’s best stock performers continue to get hammered as the rotation out of tech stocks continues. Of course, investment folk always feel the need to wrap these declines into a digestible narrative, so the violent market moves are easier to comprehend.

This time around, the majority of the blame has been attributed to a growing fear of higher inflation and rising interest rates. In reality, these growth tech names simply couldn’t maintain a perpetual state of hyper-growth. As I mentioned last week, a pullback was always on the horizon.

Market participants continued to favour value and cyclical stocks despite a strong earnings season for many tech names. Inflation fears were dampened by a less than impressive jobs report, driving interest rates lower.


Supply bottlenecks and post-pandemic demand have sent commodity prices soaring to their highest levels in almost a decade.

Metals, food, and energy are at the fulcrum of any growing global economy. Throw some supply-side problems into the mix, and you have a perfect storm.

Lumber has more than tripled in price since last year. Copper has jumped almost 40% since the start of the year and is now up over one hundred percent from its pandemic low point. While the supply-side contraction will likely be short-lived, this high demand, low supply environment looks set to keep commodity prices elevated over the near term.


Ethereum (Ether), the world’s second-largest Crypto, moved above the $4,300 mark for the first time this week, doubling in price in just over a month. Ether continues to emerge from Bitcoin’s shadow as more and more investors look to other cryptocurrencies for returns.

Apparently, the relatively stable price of Bitcoin over the last week or so is too mundane for the get rich quick, volatility hungry crypto elite.

Market Outlook

With commodities continuing to soar and Washington debating even more stimulus, inflation is still the market buzzword of choice.

The Fed is insistent that the recent spike in commodity prices and wage pressure will be short-lived. They also have continued to highlight their willingness to let inflation run above target for a period as the economy revives.

Despite the leading indicators signalling a pick-up in inflation, many market participants are now making a case for a more benign inflation outlook. Traders have trimmed bets on rate hikes, while Goldman and Pimco have both softened their inflation outlook.

While fiscal stimulus, an even more supportive Fed policy, supply-side contractions and pent-up demand will likely bring near term inflation. Secular trends such as technological innovation and demographics will ensure these inflation figures level out over the medium/long term.

In short, inflation is likely to rise above the anemic levels it has been anchored to over the past decade, but this inflation jump won’t bring us back to the ‘out of control’ numbers experienced during the 1970s, despite what some doomsday economist would lead you to believe.

The past two weeks have probably been traumatic for anyone playing it fast and loose with the big winners of last year. While these losses can be painful, it highlights the need to stay focused on the core principles of long-term investing.

Don’t get caught up on short-term moves. Focus on your long-term time horizon
Make sure you have adequate diversification
Be patient: There will be periods where markets fall over 10%, that is a guarantee
Stay committed to the companies you believe in
Be an opportunist: Use market corrections to build out positions in your favourite stocks.

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Documents for driving abroad in Europe

By John Healy of Healy Insurances As of August 2021, a green card (or international motor insurance card) is no longer required for travel in the European Economic Area. This […]




By John Healy of Healy Insurances

As of August 2021, a green card (or international motor insurance card) is no longer required for travel in the European Economic Area.

This area includes all the European Union countries plus Iceland, Liechtenstein and Norway. You also don’t need a green card for Andorra, Bosnia and Herzegovina, Serbia and Switzerland.

If you are travelling with your vehicle to the named counties you will still need to bring:

Your certificate of motor insurance
Your vehicle licencing certificate
Your driving licence
Your passport

If you are taking a company owned, hired or borrowed vehicle, you will need a letter of authorisation from the registered owner along with the vehicle licencing certificate.

It is important to check the legal requirements for the country you are driving in. Some EU countries including France will require you to carry the following items:

Reflective jackets for each occupant of the vehicle
Warning triangle
Headlamp beam deflectors
Breathalyser test
Spare bulb kit
First Aid Kit (compulsory in Austria, France and Germany)

It is advisable to have your travel insurance details, European breakdown cover details, health insurance details and your European Health Insurance card in your possession. Travel safe.

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Make your property look as appealing as possible

By Ted Healy of DNG TED HEALY Over the past few weeks we have looked at ways of spring cleaning our homes in preparation for going to the market. The […]




By Ted Healy of DNG TED HEALY

Over the past few weeks we have looked at ways of spring cleaning our homes in preparation for going to the market. The final step and one of the most important is the kerb appeal of your home.

The exterior of your property is going to attract would-be buyers, it is a simple fact.

So let’s get it looking as well as we possibly can.

Our aim should be to make your property look as appealing as possible, to as many people as possible, ultimately leading to a higher selling price in a quicker timeframe.

Remember that first impressions last. After a long winter, things may not be looking their best in the garden but with the onset of spring and the warm sunny (hopefully) summer evenings, comes the opportunity in presenting our outdoor spaces in the best possible light.

Cut the lawns, brush the driveway, weed the flower beds, get those flower baskets and window boxes out. Lay out the patio furniture.

Do your footpaths/patio areas need a power hose?
How are the rainwater gutters – remove any debris/growth from them.

How’s the paintwork, are there any areas of peeling paint that need touching up?
Perhaps give the front door a lift with a new coat of paint.

Improving how your property looks from the outside is as important as how it feels once you’re inside, yet it often gets overlooked.

Remember our home is our most valuable asset so why not get it looking its very best. We get one chance to make that first impression so make it last, it will pay off.

For anyone considering selling their property or looking for advice on how best to prepare it for sale, contact DNG Ted Healy on 064 6639000 or

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