A popular answer, which doesn't really the core
Whenever interest rates rise, the money flows out of the stock market, thereby depressing the stock prices.
It is as simple as the relationship between IT market and real estate. When IT jobs are abound, the real estate skyrockets: the net money flow into real estate increases.
At macro level, find the causes of capital flow in/out of some market.
Instead of risk and premium n other sundry garbage!
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