Category: Investment Outlook
Hiatus in optimism
29 July 2026Equity and bond markets came under pressure this week, as oil prices rose above $100 per barrel again. The downside was clearest in bond markets, with long-term government yields moving up sharply. Stocks held up a little better...
AI froth coming off
21 July 2026The summer lull has arrived early. Broad stock indices, bonds and even oil prices have bounced up and down over the last two weeks without any clear direction. The previous AI winners, particularly semiconductors (chips), are...
Markets keep calm and carry on with business
10 July 2026Just as markets had downgraded the risks emanating from the Middle East, they flared up again. Yet again, however, it is telling how measured the market’s reaction has been to ships being set ablaze in the Strait and the consequent...
Much appreciated slowing down
6 July 2026Global stocks recovered from last week’s sell-off, but are still only roughly flat from a month ago. Once again, the previous big winners – like US tech – are the most under pressure. Last week, we put these moves down to...
Mind the money flow at quarter end
26 June 2026Stock markets, predictably, wobbled this week. Investors have seen great returns this quarter despite intense global risks, so now many institutional investment managers must rebalance their asset weightings back to target –...
From Wars to Warsh
19 June 2026The deal between US and Iran, which extends the ceasefire and opens the Strait of Hormuz, is unequivocally good news for markets. Oil prices are sharply down, global stocks are up and long-term bond yields have calmed. ...
Stall, correction and rebound
12 June 2026Equities started the week poorly but ended strong – a reversal of last week. Trading liquidity was initially tight as investors contemplated a glut of newly issued shares, most notably today’s SpaceX IPO, but liquidity returned...
Calmer markets
3 June 2026Global stocks pushed higher this week, led yet again by global tech stocks. Semiconductor chip makers were especially strong. On Thursday, Axios reported that US and Iranian officials had agreed a 60-day ceasefire extension, during...
Assuming growth will win
22 May 2026Global stocks and global bonds are ending the week positively, with the gains coming mostly in non-US markets. This is the first week since the end of March that big US tech stocks have underperformed. That underperformance comes...
Waiting for relief
15 May 2026The Bloomberg World Equity index is up 1.5% in sterling terms as we close the week, although virtually all of that gain comes from US stocks and a stronger US Dollar. Donald Trump’s high-profile visit to China had no notable...