Have written about financial markets in the last 2 posts and shared my confusion about market behavior in both. In my earlier job, back when I was in the UK, I had many useful resources to analyse markets - Industry research reports, bloomberg access and what not. However, ever since I quit that role, gathering information has been extremely difficult.
Before I get to sharing what I found, I want to just quickly update a bit about the markets. BTC in my opinion is holding up pretty well, specially on a day when S&P futures are again down 1.7% (at the time of writing).
Oil has fallen sharply too, so has gold. The 2 things in the green are US treasuries and DXY. Indian markets will likely fall sharply tomorrow, although there is still time for US to close.
I was watching NIFTY pretty closely in the morning and the start was decent. However, close to end of day, S&P started dropping and NIFTY followed it. I sold off some of my old positions in Autos and Consumer Discretionary (~10% of my holdings).
As I mentioned, I expect the choppiness to continue and advice everyone to be extremely cautious. I also mentioned that I am very confused by the state of the economy. While backward looking GDP data confirms everyone's idea of a negative economic shock from the lockdown, the real question is what happens going forward? My friends, decent earners, have not really lost their jobs. However, I have heard about numerous places doing salary cuts and laying off people, specially those in tourism and HORECA sectors.
Today I came across a good tool, for the US that helps see what is going one in the real economy.
So if you want to know which sector is worst affected or which section of society has been worst impacted, have a look at this site. I also ended up finding some really good podcasts and shows online that helped me kind of revisit the basics of finance and economics.
Moreover, my wife recently started a new job and she has now access to some of the best databases for finance in the world, about which I am pretty excited. That is because now I have access to these databases and it helps me understand what the market is thinking. Zerohedge is pretty amazing but I think I still need my charts. Excited about this! If you want to know about deal multiples and IB transactions, check out S&P's capital IQ. Debtwire is a cheaper tool for credit markets and also has good research. There is a very insightful news portal called the KEN. It does one news article a day but the best bit is, it is thoroughly well researched. A boon in the day and age of sensational journalism.
Check out some of these tools if you are interested and let me know your thoughts.