Looking back at the markets through July

A selection of articles looking back through the markets last month.   Global market review Possibility of “no deal” moves closer Boris Johnson beat Jeremy Hunt during July to become the new leader of the Conservative Party and the UK’s new Prime Minister. The new Government’s harder-line approach to Brexit – and the increased prospect … Continue reading “Looking back at the markets through July”

Looking back at the markets through June

A selection of articles looking back through the markets last month. Brexit: no further forward   Global market review The third anniversary of the Brexit referendum came and went in June, and still the issue of Brexit remained up in the air. As the clock ticked towards the extended deadline of 31 October, the Conservative … Continue reading “Looking back at the markets through June”

Looking back at the markets through May

Although the US and China had been widely expected to agree a trade deal, US President Donald Trump instead confounded hopes by announcing that tariffs on over US$200 billion-worth of imports from China would increase from 10% to 25%.  In response, China raised tariffs on US$60 billion-worth of US goods. Share prices fell heavily in … Continue reading “Looking back at the markets through May”

Looking back at the markets through April

Brextension Having delayed Brexit from 29 March to 12 April, Prime Minister Theresa May agreed a new Brexit deadline of 31 October with EU leaders. As well as drawing out the uncertainty that has intensified over the last few months, this decision also means that the UK will have to take part in European Parliamentary … Continue reading “Looking back at the markets through April”

Inescapable investment truths for the decade ahead

It seems clear to us that the world investors have got used to over the last few years is very different to the one we need to get accustomed to in the years to come. We have identified a number of economic forces and disruptive forces we think will shape the investment landscape ahead of … Continue reading “Inescapable investment truths for the decade ahead”

Reasons to be positive on equities

Investors are quite rightly nervous after sharp market falls in the final quarter of last year. However,  that it’s not all doom and gloom. In fact, there are reasons to be positive. Equities are discounting a recession that is unlikely to happen. Although growth is certainly slowing down, none of the world’s major countries are … Continue reading “Reasons to be positive on equities”

Why Trump and China both want to end the trade war

Optimism that the trade war that has ravaged global markets could be resolved soon is mounting. China’s Ministry of Commerce said that last week’s discussions with US representatives were extensive and had established a foundation for the resolution of each country’s concerns. In fact, it appears that things are moving into place for Donald Trump … Continue reading “Why Trump and China both want to end the trade war”

Investors dump equity in favour of safe havens

Government bonds received a boost in demand last month as investors’ risk appetite was tested by volatility in equity markets. This risk-off attitude proved negative for corporate bonds, however. The looming threat of a trade war between the US and China sent shockwaves throughout equity markets last month, as investors braced for the impact of … Continue reading “Investors dump equity in favour of safe havens”

Why UK-focused stocks look their cheapest in a decade

Uncertainty about the country’s long-term relationship with the European Union, its biggest trading partner, has left many international investors nervous about investing in UK companies. One recent poll showed that UK stocks were the least popular asset class among global fund managers. I disagree. I can see bright spots in the UK stockmarket that offer … Continue reading “Why UK-focused stocks look their cheapest in a decade”

A spot of turbulence

Global markets hit a rough patch in early February. Equity markets sold off, commodities softened, credit spreads widened and capital flowed out of emerging markets as volatility bounced back sharply. There have been a range of explanations offered for this dislocation, from jitters over rising inflation to concerns that rising term premia could snuff out … Continue reading “A spot of turbulence”

After the melt up

In January we saw shares rising rapidly, in what some called a melt up. In the last few days they have come back down again very quickly. The year’s gains were rapidly erased. Should we worry? Last week before the fall I wrote that “There will be bad times from time to time. Worrying about … Continue reading “After the melt up”

One year of Trump

January 20th marked Donald Trump’s one-year anniversary as US President.  So far, his tenure has proved controversial and divisive, both domestically and abroad. His attempts to take credit for the performance of the US economy and equity market should be taken with a pinch of salt, particularly given the considerable momentum carried over from his … Continue reading “One year of Trump”

Farewell to 2017

Is it better to travel than to arrive?  The US share market has done well this year.  It has been in fitful anticipation of tax cuts to come.  As the old year draws to a close the tax cuts have as we expected taken legislative form. The US growth rate has risen, exceeding 3% as … Continue reading “Farewell to 2017”

Exchanges and the companies quoted on them – surely it’s different this time?

Although it is not the oldest stock exchange in the world, the London Stock Exchange can trace its lineage back more than 300 years. The earliest stockbrokers were debarred from London’s centre of commerce, the Royal Exchange, because of rowdiness. Instead, they began to congregate at Jonathan’s Coffee-House on Change Alley. Here, one of the … Continue reading “Exchanges and the companies quoted on them – surely it’s different this time?”

Turbulence ahead: Politics is never far from the surface

November was a lacklustre month in terms of stock market returns. Japan and the US led the way with rises of 1.14% and 1.06% respectively, which resulted in the FTSE World index managing a rise of just 0.7%. Closer to home the FTSE All Share fell by 1.66%, as did Europe and Emerging markets which … Continue reading “Turbulence ahead: Politics is never far from the surface”