Guy Stephens: What can we predict from seasonal trends?

Summer is known as the season when somewhat lightweight stories can make the headlines and lead to irrational short-term volatility. This year, August volatility was caused by the US and China announcing increased tariffs in a tit-for-tat series of announcements via Twitter and official press releases. In the absence of any other significant news, this had an exaggerated effect which has now passed. Markets currently appear to be in the autumn doldrums and directionless which, while unusual, is perhaps symptomatic of a market that isn't focusing on the fundamentals. September and Octo...