There is a global stock market correction correction, triggered by falls in the Chinese market. From what I gather so far, it is regarded as a healthy correction for overbought markets for the last yr or so, with fundamentals still solid.
Another reason for the massive selling is the increase in interest rates by 0.25% by BOJ. With many hedge funds borrowing yen to buy, they are now selling their stocks to repay the yen loans. It is term "unwinding" of yen trade.
BUT, I am just regurgitating what I read elsewhere. I was a few hundred bucks richer last two weeks, but this healthy correction wiped out my small little profits from my single UT. But I am not losing sleep over it.
Seriously, this market correction makes me realize how ignorant I am, and I still dared to put money into UTs. It has strengthened my desire to pick up more financial skills and to earn the chartered financial analyst (CFA).
The CFA should serve as a useful qualification should i decide to switch career after my bond, and at the very least I will be able to make my money work harder for me.
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