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Winners and losers of stabilising yields
1 March 2024We ended February and start March with a week of positive price action in equities, although the US mega-caps did less well generally, while bond markets were rather stable. Indeed, we think stable bond markets – pretty much...
M&A activity sets growth against value
23 February 2024Equities have moved higher again this week, with gains made across global markets. Even China put in another week of positive returns, following the largest ever-cut to the five-year housing loan prime rate (admittedly only 0.25%)....
UK not growing really, not growing nominally
16 February 2024As regular readers will know, we tend not to comment on UK matters as much as some, partly because the investment portfolios we manage for UK clients are quite globally focused. But the UK as our home is important to us and this...
US stock market entering bubble territory?
9 February 2024This was the week when the US large-cap equity market shook off the rest of the world and marched to yet another new milestone. The S&P 500 traded above 5,000 for the first time on Thursday night. It also shook off another...
Central banks challenge Goldilocks assumptions
2 February 2024The first month of the year is behind us and, despite what many expected, returns were positive for most investors. Following the initial hangover from last year’s tremendous Santa Rally, risk asset markets continued on their...
Positive growth sentiment returns
26 January 2024After the bumpy ‘hangover’ start and the volatile two weeks that followed, it looks like investors are finding their feet again, slowly turning January into a far more positive month than many had expected following the very...