Category: Investment Outlook
Don’t fear the rebalance
26 July 2024The rough patch for global stocks continues. Equities had a fairly dramatic fall on Wednesday, led yet again by the US large-caps. Wednesday saw both the S&P 500 and the Nasdaq experiencing their worst single-day losses since...
Shock, rotation, growth
19 July 2024It has been an astounding week. Capital markets took the attempted assassination of Donald Trump as practical confirmation of his victory in the upcoming presidential election. Equities moved to price in his expected agenda of...
Lower inflation, less profits?
12 July 2024It has been an interesting week in capital markets. Global stocks are a nudge above where they were last Friday in aggregate, but this hides a great deal of variation. There was a steady climb early in the week, led once again...
New government, same economy
5 July 2024Keir Starmer was not wrong when he called this an historic victory. It is the Labour party’s first election win since 2005, ending 14 years of Conservative rule and handing the latter party its worst ever defeat. The results...
The business of politics, politics without policy
28 June 2024This Friday marks the end of the second quarter and the day after the first, and for Biden disastrous, televised debate of the 2024 US Presidential election – yet markets have been reasonably calm. Large institutional investors...
Stock market highs don’t feel so high
21 June 2024It was another mixed week for capital markets. Global stocks reached another all-time high on Thursday, but the mood feels subdued. This is partly seasonal: US traders had a shortened week due to the “Juneteenth” national...
Still mostly sticking to the plan
14 June 2024After a cacophony of political noise, central bankers were again the ones to really strike a chord with capital markets this week. Britain’s political parties unveiled their manifestos and French President Macron shocked everyone...
ECB’s Lagard makes rate cut history
7 June 2024Rate cuts at last. In a heavily anticipated decision, the European Central Bank (ECB) cut interest rates for the first time in five years on Thursday. Perhaps more poignantly, it was the very first time in its 25 years existence...
Nvidia versus the Fed
24 May 2024Following the strong upwards surge in stocks and bonds at the beginning of May, capital markets have recently moderated and were mostly flat, to slightly down, overall this week. Britons were preoccupied with Rishi Sunak’s surprise...
Pluses and minuses
17 May 2024It was a decent week for investors, with global stocks up around 1% from last Friday. British and European equities finished virtually flat, with the US and China slightly up. The gain for US stocks was not outsized, but it was...