Looking back at the markets through April 2021

A selection of articles looking back through the markets last month. Global Market Review Optimism drives share prices in April Global equity markets generally rose during April, buoyed by encouraging economic data from the US. The International Monetary Fund (IMF) upgraded its forecasts for global growth from 5.5% to 6% in 2021 and from 4.2% … Continue reading “Looking back at the markets through April 2021”

Stock markets are not economic reality

Equity cycles have some relationship to GDP growth, but they are also dependent on central banks’ policies, lending by commercial banks – and on investors’ ever-changing view of the future. Market commentators and forecasters spend a lot of time trying to predict what will happen to economies – and therefore to turnover and profits of … Continue reading “Stock markets are not economic reality”

China offers a glimpse of life after lockdown

China delivered a startling reminder of what a post-pandemic world might look like, setting a new record high for domestic tourism during its Labour Day holiday this month. The national May 1-5 break saw 230 million Chinese citizens make in-country trips1 – the equivalent of more than half of the entire European Union on the … Continue reading “China offers a glimpse of life after lockdown”

The pandemic has a further sting

Equity markets are discounting a fast pace of recovery in the second half of 2021. But investors need to watch out for those countries where lockdowns will need to intensify. The virus is not defeated yet. According to the European Centre for Disease Prevention, in the last two weeks, India experienced 4.8 million new cases of … Continue reading “The pandemic has a further sting”

Looking back at the markets through March 2021

A selection of articles looking back through the markets last month.  Global Market Review “Light at the end of the tunnel”? The global economic outlook has improved, according to the Organisation for Economic Cooperation & Development (OECD), which upgraded its growth forecasts, as vaccine rollouts gain momentum and governments – particularly the US – provide … Continue reading “Looking back at the markets through March 2021”

Emerging markets lag in Covid-19 vaccine race

Constraints on the supply of Covid-19 vaccines have meant that the roll-out has been much slower in  emerging markets (EM) relative to developed markets. While some EM such as Chile and those in Central Eastern Europe are distributing inoculations relatively quickly, most are lagging behind. Despite warm words in recent weeks, the hoarding of vaccines … Continue reading “Emerging markets lag in Covid-19 vaccine race”

Looking back at the markets through January 2021

A selection of articles looking back through the markets last month.  Global Market Review “Unintended consequences” Financial markets are becoming increasingly vulnerable to a sharp correction that would, in turn, jeopardise stability, according to the International Monetary Fund (IMF). The IMF warned that investors’ expectations of continued support from governments and central banks has generated … Continue reading “Looking back at the markets through January 2021”

What can investors expect from the Year of the Ox?

This year Chinese New Year ushers in the Year of the Ox, which began on Friday. The Ox is thought to be a symbol of reliability, strength, patience and caution. It is also associated with harvesting, fertility and prosperity. After a tumultuous 2020, many an investor will welcome financial markets that are reliable, strong and … Continue reading “What can investors expect from the Year of the Ox?”

What the Biden presidency means for emerging market debt

The unpredictable Donald Trump presidency was perhaps suitably signed off by the recent shocking invasion of Capitol Hill by some of his supporters. Neither this, nor policy annunciation via Twitter (frequently in the middle of the night), could scarcely have been imagined before Trump. Perhaps the single most visible change of the new Biden presidency … Continue reading “What the Biden presidency means for emerging market debt”

Looking back at the markets through December 2020

A selection of articles looking back through the markets last month. Global Market Review Shares advance on vaccine optimism After a tumultuous year in which the coronavirus pandemic gripped the world, many major stock markets ended 2020 in positive territory. Investor sentiment was buoyed towards the end of the year by optimism over the prospect … Continue reading “Looking back at the markets through December 2020”

Looking back at the markets through November 2020

A selection of articles looking back through the markets last month. Global Market Review A November to remember It was a November for investors to remember as a widespread focus on the perceived safe havens of gold and government bonds was replaced by renewed interest in equities. Many major equity markets notched up double-digit gains … Continue reading “Looking back at the markets through November 2020”

The four “M”s: why the 21st century belongs to Asia

For a look into the future of the global economy, and where the power is shifting, consider technology developments in both China and India. In a mere decade, China’s e-commerce market has grown from less than 1% of global sales, into the world’s largest market in 2016, representing more than 40% of transactions by value. … Continue reading “The four “M”s: why the 21st century belongs to Asia”

Looking back at the markets through September

A selection of articles looking back through the markets last month. Global Market Review Rising infection levels knock sentiment Share prices generally fell during September amid concerns over rising infection levels and their potential impact on economic activity. Investors’ worries were compounded by doubts over Brexit negotiations, continuing friction between the US and China over … Continue reading “Looking back at the markets through September”

Can emerging Europe close the performance gap?

Across the world, we wait in hope and anticipation for a vaccine for Covid-19. Financial markets reflect optimism that one will soon be found, and that the economic recovery will sustain. Investors in emerging Europe will be particularly keen for some form of normalisation to come through. Emerging European equities are down almost -30% in … Continue reading “Can emerging Europe close the performance gap?”

A deepening divide: emerging markets and the second-quarter earnings season

Emerging markets (EMs) are often discussed as if they were somehow homogenous. That, however, is misleading. The differences between the individual markets included in EM indices are profound. The Covid-19 crisis has exposed these fundamental differences – especially those between emerging Asian economies and other parts of the developing world. And EM companies’ second-quarter earnings … Continue reading “A deepening divide: emerging markets and the second-quarter earnings season”