While Gluskin Sheff’s David Rosenberg has noted the macro/fundamental similarities between today’s tumultuous markets and those of 1987…
“RISING BOND YIELDS. FULL EMPLOYMENT. FED TIGHTENING. TRADE FRICTIONS. WEAK DOLLAR. RISING TWIN DEFICITS, SPURRED BY TAX REFORM. SOUND FAMILIAR? IT SHOULD. THIS WAS 1987. START REBALANCING.”
markets observer Art Cashin sees more ominous signals in the market’s price machinations.
As CNBC reports, Cashin said this year’s market volatility reminds him of the 1987 stock market crash.
“IT’S A GOOD DEAL MORE VOLATILE THAN ALMOST ANYTHING ELSE YOU’VE SEEN,” SAID CASHIN, WHO BEGAN HIS CAREER AT THOMSON MCKINNON IN 1959.“IT IS UNFORTUNATELY REMINISCENT OF SOME OF THE VOLATILITY WE SAW IN ’87,” HE SAID THURSDAY ON CNBC’S “CLOSING BELL.”
The echoes are growing louder…
“It’s been a bumpy road,” Cashin concluded… with more to come we suspect.