Repositioning Continues

The bounce back in global equity markets seems to have paused.  But this comes after an 11% recovery from the lows before Christmas which translated into 7% in sterling terms.  It hasn’t been the recovery many expected with some of the riskier companies doing the best.  The ghastly ‘risk on’ phrase gets so over used but it does seem apt … Read More

Repositioning Portfolios

Global equities have not only recovered substantially from their lows last month but have now retraced half of their losses from the autumn of 2018.  The big question is, of course, where will they head now?  Our expectation is that they may move higher over the course of the year but, if they do, it won’t be by much and … Read More

A lot Going on in the World

As we noted earlier this week, there is, as always, a lot going on in the world.  And much of it directly affects the thinking of investors.  At such times, we find it especially important to take a step back from the ‘noise’ and take a rather more considered look at where we are, reflect on how we got here … Read More

Investors Remain Discombobulated

Equity markets had a better performance last week, but investors remain somewhat discombobulated.  As expected, the newsflow remains mixed.  Stories of weakened Chinese trade combine with disappointment over European data and political rumblings all over the place.  On the other hand, the strong US jobs numbers are being followed by expectations of a relatively robust opening to the earnings season.

Investors Feeling Pretty Rattled

Having started with a strong rally in equity markets, 2018 ended with almost all equity markets showing significant losses.  Why such a U-turn in sentiment?  Well, investors became increasingly worried about a slowdown in economic growth, coupled with tighter policy and the end of asset purchase programmes leading to weaker corporate profits.  They took money out of equities and moved … Read More