Whilst the outlook for manufacturing activity in the United States (and developed markets more generally) is decidedly gloomy, the surprise of the year, thus far, is that services activity has held up fairly well. The predominant reasons for this are … More
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Whilst the outlook for manufacturing activity in the United States (and developed markets more generally) is decidedly gloomy, the surprise of the year so far is that services activity has held up well and not followed the downward path of … More
The failures of Signature Bank, Silicon Valley Bank and First Republic Bank in the US and the speed at which Credit Suisse Group fell into distress and needed rescuing have shocked market participants. In all these cases, deposit flight was … More
2022 saw much of the received wisdom concerning the investment norms of the past twenty plus years turned on its head. Inflation reached double digits as COVID related pent up demand in the West met the reality of COVID related … More
2022 saw much of the received wisdom concerning the investment norms of the past twenty plus years turned on its head. Inflation reached double digits as COVID related pent up demand in the West met the reality of COVID related … More
2022 saw much of the received wisdom around investments of the past 20-plus years turned on its head. Inflation reached double digits as COVID related pent-up demand met the reality of coronavirus related supply chain disruption, which was then exacerbated … More
In the UK, the government’s fiscal event on 23 September swiftly morphed into a significant monetary event as the credibility of the new fiscal plan was challenged by investors. The disorderly sale of gilts increased the ‘risk free’ discount rate, … More
In the UK, the government’s fiscal event on 23 September swiftly morphed into a significant monetary event as the credibility of the new spending plan was challenged by investors. The disorderly sale of gilts increased the ‘risk free’ discount rate, … More
Time in the market beats timing the market. This well-known maxim encapsulates arguably the most important piece of investment advice – to stay invested. This is particularly timely given the current environment and recent drops in both equities and bonds. … More
Stock markets sold off in June before rallying during July and the first half of August following a better than feared company results season and a growing belief that the Federal Reserve may not increase interest rates by as much … More
During the first half of the year, markets were challenging however asset prices have rallied somewhat in July. Driving the initial falls was worse than the inflation data we were expecting to see, but also a change in central banks’ … More
Markets during the first half of the year have proven to be challenging but in recent weeks, in particular, we have seen heightened levels of volatility. Driving the risk-off escalation has been worse than expected inflation data, but also a … More