Macro
The global economy outperformed pessimistic expectations during the quarter, helped by unseasonably mild weather in the US and Europe. The unexpected and rapid rebound in Chinese activity…
Read more →
World markets summary:
March began with the collapse of Silicon Valley Bank (and several smaller US regional banks) as fears of a wider 2008-09 banking crisis rippled through markets,…
Read more →
World markets summary:
The month was a tough one for financial assets as a series of surprisingly strong economic data releases in the West, coupled with higher than expected…
Read more →
World markets summary:
Financial assets enjoyed a very strong start to the year as investors took heart from increased evidence that inflation is peaking in the West and that…
Read more →
Macro
To pivot or not to pivot? That was the question on investor’s lips throughout the third quarter of 2022. It (pivoting) refers to the policy actions of…
Read more →
World markets summary:
It was a painful month for investors as asset classes sold off fairly indiscriminately. Correlations between bonds and equities remained high, evidenced by falls of more…
Read more →
There has been much for investors to digest in the last few weeks and it would be fair to say a lot has left a sour taste in their…
Read more →
We highlighted in our January commentary that the likelihood of rising interest rates and withdrawal of liquidity could lead to volatility in financial markets. We did not expect…
Read more →
What is happening with inflation?
In the UK, the annual rate of inflation increased to 7% in March, constituting the highest level seen since 1992. The main drivers of this…
Macro
In our last commentary we stated that Central banks in the west had taken the first baby steps towards normalisation of interest rates. Whilst the actual moves…
Read more →