Stock markets around the world are ahead of the economy, said Yuwa Hedrick-Wong, economic advisor at MasterCard Worldwide. He shared his market strategies.
“At the moment, equities everywhere—especially in Europe and to a lesser extent, U.S—is way ahead of what we can see in the real economy in terms of job creation, income growth and so forth,” Hedrick-Wong told CNBC.
“I think we’re going into a period of volatility and a lot of ups and downs, as investors are finding it difficult to make up their minds as conflicting data will continue to come out,” he continued.
Hedrick-Wong said he expects lower household income, rising taxes in many regions of the world and shrinking global trade.
“Global trade from that point of view will continue to be a lot more acrimonious and China is taking market share away from many other exporters in a shrinking global pie, so we’re going to see a lot of headwinds,” he warned.
- Watch Hedrick-Wong's Previous Appearance on CNBC (Jan. 27, 2010)
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No immediate infomraiton was available for Hedrick-Wong or his firm.