Equity investors warned to stay defensive

THE upside in share prices on equity markets is limited for now, according to Bloxham Stockbrokers.

Bloxham chief economist Alan McQuaid added the risk/reward profile of equity markets was unfavourable.

“Firstly, risk is pricey and the Fed is tightening monetary policy. This is a poor environment for stocks. Notably, there are clear signs that global liquidity has rolled over, a sign that has historically led to a weakness in risky assets.