Monday Digest 12 October
Overview: debt markets buoyed by the promise of QE After September’s unsteadiness, capital markets have regained their composure and continue to drift upwards in October. This poise stands in stark contrast to the flow of bad news. In the US, the White...
Baffling market optimism
Following the unsteadiness of September, markets have further regained their composure and continue to drift upwards. This stands in stark contrast to the flow of bad news. The White House, centre of power for the mighty US, has become a COVID hotspot,...
Monday Digest 5 October
Overview: October begins with the most unsurprising of surprisesOctober announced itself in truly dramatic fashion. In the US, COVID reality appears to have finally caught up with the reality-show president, although – somewhat characteristically – confusion and misdirection over the seriousness of...
A question of time horizons
A US presidential debate that nobody would want to watch twice was followed by reports that COVID reality has finally caught up with a US president who insists that only he can determine what is real and what is fake has made...
US election market impact – not straight forward
Selling pressure built up early in the month, as COVID cases spiked around the world once more. The fear was that we were in for a repeat of March, where the spread of the virus and ensuing global economic shutdown sent markets...
State of the global economy
Throughout the middle of this year, we saw an impressive bounce back in economic activity. While the global economic shutdown had frozen business and manufacturing activity, the opening‑up into the summer months suggested we may be on course for a sharp V-shaped...
Monday Digest
September chill continues to bite for equity investors After another wobble last week, the S&P500 is down around 8% in US Dollar terms for the month. An element of Autumnal profit-taking following impressive gains over the summer months was to be expected....
A recovery on hold
September continues to bite equity markets. Stocks everywhere wobbled again this week and even though they bounced back, the S&P500 is down around 8% in US Dollar terms for the month. UK investors might notice less of a fall, with global equities...
Monday Digest
Home-grown pessimism needs to be put into perspective for investorsHaving spent most of 2020 hoping things can get back to normal, Britain’s political news over the last couple of weeks has left us thinking ‘be careful what you wish for’. Stalling Brexit...
Taking a step back to look forward
Stock markets have stabilised and started trading sideways, in a sign of healthy consolidation following their extraordinary recovery rally since late March. Notably, the darlings of the recovery, namely US large cap tech and growth stocks, are no longer the leaders. This...