Guy Stephens: Economic gods and their mysterious ways

Last week certainly broke the monotony of ever-rising markets. If you had been a cautious investor sat in cash for the last two years, then finally you had your reward. Timing markets in the short term is a mug's game and predicting precisely when investors will take fright is equally impossible to predict - the madness of crowds and all that. What is especially bizarre about last week's change in markets is the data point that triggered it was precisely that which many critics had said was so sadly lacking, namely wage growth. Just as we get some evidence, which should be good news for ...