Macro
As in the previous quarter, economic data was mixed in Q4, and the picture was made murkier by the longest US government shutdown in history, which limited data availability.…
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World Market Summary
December was characterised by growing geopolitical tensions alongside regional divergence in economic growth trends and market performance. Europe led with a 2.7% gain, while the FTSE 100…
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Summary
Although historically the best month for equity markets, this November saw global stocks sell off amidst a spike in volatility driven by fears of an AI bubble. The sell-off…
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Macro
Global economic data was mixed in Q3, with strength in August waning as we moved into September, and the majority of Purchasing Managers Indices (PMI) weakened. Gross Domestic Product…
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Summary
Global markets gained nearly 4% in the month, led by strong performances from the US and Emerging Markets. The lack of retaliation to US tariffs and ongoing trade diversion…
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Overview
August was characterised by slowing momentum, with markets fearing that the AI ‘bubble’ is bursting, but Federal Reserve Chair Powell’s speech in Jackson Hole helped markets to shake it…
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Overview
Wimbledon set the tone for markets in July, with champagne corks continuing to fly as the S&P 500 registered another ten record highs over the month. However, Europe was…
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Macro
Q2 continued to be dominated by tariff news flow, with global recession fears mounting amidst Trump’s self-proclaimed ‘Liberation Day’ announcement. As trade deals have been reached, most recently with…
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Overview
Tariffs continued to provide the main focus for markets in May, but as the recently coined ‘Trump always chickens out’ (TACO) narrative emerged, US markets extended their recovery from…
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Overview
This year, April Fool’s Day occurred on the second day of the month, with so-called ‘Liberation Day’ placing substantial tariffs on nations across the globe. An island solely inhabited…
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