This has very real implications for investors of all stripes. For years now, global sovereign wealth funds have been using their vast stashes of petrodollars to buy assets – from US bonds to London property – around the world. Sovereign wealth funds owned 9pc of all global equities and bonds in 2015, according to Capital Economics. Now they’ve switched from buying to selling. JP Morgan has predicted that sovereign wealth funds could try to offload up to $80bn (£56bn) of equities this year alone. Gulp.

David Fuller's view

Here is a PDF of Ben Wright's article.

“Gulp” indeed.  Stock markets have had a dreadful start to the year, and sovereign wealth funds are certainly contributors to the selling.  Low government bond yields also confirm that investors have retreated from stock markets.