Your gym membership can wait.
Despite the fact that each market rebound ended up as a V-shaped affair, each successive rally was carried out with less and less individual stock participation. Glaring divergences between winners and losers, large caps and small caps, preoccupied the commentariat for most of the spring and summer. Deflationary concerns from Europe and the Japanese technical recession further confounded analysts, as Treasury yields and inflation indicators in the U.S. were driven lower despite the improving domestic economy.
Banks, asset managers and insurance companies have flocked from mainland China to acquire prime Hong Kong office buildings, prompting the territory’s government to announce it will release more land for commercial redevelopment in the oversubscribed heart of the city.
At this point, travelers might be wondering if there will ever be an airport that can surpass much-lauded Changi.