Nobody puts sterling in the corner

The story for September remains mundanely similar as for much of the year. Global political noise is barely being acknowledged by capital markets; central banks attempt to signal the way higher for rates without spooking the market; the global economy continues to bump along. Despite an increasingly aggressive stance from North Korea, a destructive hurricane … Continue reading “Nobody puts sterling in the corner”

Summertime and the livin’ is easy

Stocks are jumping and the market is high (to paraphrase Ella Fitzgerald’s seasonal classic). After a slight blip in June, July saw investors shake off concerns over the potential for Central Bank tightening and global stockmarkets reverted to a sunny climate of positive returns and low volatility. The UK and most developed overseas markets posted … Continue reading “Summertime and the livin’ is easy”

The Times They Are A Changin’…

It was a strange month for global stockmarkets, as March proved not too dissimilar to February in its outcome. With the exception of the US and Japan, which generally moved sideways, most equity markets moved higher. However, this was also echoed by government bond markets, with yields narrowing as investor ebullience over the Trump-driven reflation … Continue reading “The Times They Are A Changin’…”

The Only Way Is Up…

February was a month of  universal price rises across Developed Market equities, higher risk Emerging Market benchmarks as well as safe havens such as lower risk bond markets and gold – making it difficult to see what was the key themes motivating investors. Surely something has to give? On one hand for equity markets it … Continue reading “The Only Way Is Up…”

Monthly Commentary – October 2016

The FTSE World returned a little under 5% during the month of October. However, as has become a regular occurrence since the UK’s decision to leave the EU, currency devaluation was the primary driver of returns for UK investors. Versus the US Dollar, Sterling lost around 6% during the past month – essentially all in … Continue reading “Monthly Commentary – October 2016”

Monthly Commentary – September 2016

The FTSE World index climbed again in September with a rise of 1.2% in sterling terms. Year to date central banks around the world still appear willing to do what it takes to generate growth, and avoid recession and deflation. Politics remains important; the new government in the UK is now 100 days into its … Continue reading “Monthly Commentary – September 2016”

A lacklustre month – Is political uncertainty to blame?

May was a lacklustre month for equity markets with the FTSE World index rising by just 0.87%. Buoyed by some positive economic figures, the US stock market was the best performing asset class (up 3.7%) followed interestingly by UK gilts which rose by 2.4%, perhaps seen as a safe haven investment in the run up … Continue reading “A lacklustre month – Is political uncertainty to blame?”