Looking back at the markets through February 2021

A selection of articles looking back through the markets last month.  Global Market Review Concerns grow over inflation Although most major equity indices ended February in positive territory, the month finished on a question-mark. A sharp sell-off across bond markets pushed up bond yields and drove down demand for growth stocks as investors assessed the … Continue reading “Looking back at the markets through February 2021”

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 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”

Brexit, US Stimulus and Fed meetings the key focus for investors

Brexit and US Stimulus deadlines pass without meaningful change The Collins Dictionary defines a deadline as ‘a time or date before which a particular task must be finished or a particular thing must be done.’ With US Fiscal Stimulus and Brexit talks both hurtling through yet another pair of ‘deadlines’ at the end of last … Continue reading “Brexit, US Stimulus and Fed meetings the key focus for investors”

Trade policy under Joe Biden

Donald Trump’s focus on trade will be tempered under President-elect Joe Biden, but he understands the potency of Mr Trump’s rhetoric on these matters. President Trump in 2016 set out to slash the large US balance of trade deficit. He identified his villains – China, Germany and Japan – and set about exposing the villainy. … Continue reading “Trade policy under Joe Biden”

What President Biden will mean for markets

Although recounts and legal challenges relating to the election need to be resolved, markets are moving on to considering what a Biden Presidency will mean. The media have decided Joe Biden will be the next President of the USA. Three states still need to complete their counts. In Georgia, there is likely to be a … Continue reading “What President Biden will mean for markets”

Looking back at the markets through October

A selection of articles looking back through the markets last month. Global Market Review The “second wave” breaks Share prices fell heavily around the world during October as Covid-19 infection rates continued to rise. Governments intensified their lockdown measures, triggering concerns over prospects for economic recovery. “In the UK, rising infection rates led the Government … Continue reading “Looking back at the markets through October”

The US election – just political noise?

The weakness in US equity markets in September appeared to come as a surprise to many investors, despite history pointing to this being seasonally quite typical. After such a strong and persistent rally since the Covid-19 lows of March, profit taking and market consolidation should be seen as a positive rather than a negative. However, … Continue reading “The US election – just political noise?”

Looking back at the markets through July

A selection of articles looking back through the markets last month. Global Market Review  The other “R” number … Recession Early in July, investors were buoyed by news of progress in the development of coronavirus vaccines. However, as the month continued, optimism was tempered by a surge in infection rates in countries including the US, … Continue reading “Looking back at the markets through July”

The US Presidential election remains an uncertainty for markets

The US presidential elections take place on November 3 and Donald Trump is now closing the gap in the polls with Joe Biden. The result remains too close to call. The US election is now Democrat candidate Joe Biden’s to lose. Donald Trump’s grand strategy has been badly damaged by the virus. His plan was … Continue reading “The US Presidential election remains an uncertainty for markets”

What could a Biden presidency mean for climate change investing?

Joe Biden in the White House, and potentially Democrats in control of the Senate too, could turbo-charge climate change as an investment theme. The US response to Covid-19 looks set to be the dominant election issue as we head towards the November polls. Myriad other issues also compete for voters’ attention, and climate change often … Continue reading “What could a Biden presidency mean for climate change investing?”

The beneficiaries of globalisation are right to be worried

The dispute between China and the US is likely to continue for many years as their clash of ideologies changes global trading patterns and supply chains. A senior American politician publicly derided one of the most important British companies on a scale we have not seen since attacks on BP following its oil spill in … Continue reading “The beneficiaries of globalisation are right to be worried”

US profits: will they bounce back as quickly as investors think?

US earnings season is always a spectacle and this time around is no different. Well, no different but for one exceptional factor: Covid-19, and its effects on company profits. The businesses that make up the S&P 500 Index have started to tell us how they performed from January to March, a period of unprecedented operating … Continue reading “US profits: will they bounce back as quickly as investors think?”

The moral hazard of crisis intervention

US markets closed up 12% in the shortened pre-Easter week as new coronavirus case growth fell globally and an undercurrent of monetary and fiscal support helped keep sentiment buoyant. Many global markets have now entered ‘bull market’ territory. Nonetheless, European markets remain 20-25% off their 01 January levels, so you’d be forgiven for not feeling … Continue reading “The moral hazard of crisis intervention”