Spring is in the Air

Equity markets ended March on a positive note and global equities returned a strong 12.3% in local currency terms over the first quarter as a whole. In sterling terms, the return was slightly lower at 9.6%.

Recession Fears Resurface

Equity markets started last week on a quiet note but ended on a sour one. The Fed meeting on Wednesday was the highlight and initially garnered a favourable reaction from investors. The Fed confirmed it was on extended pause, abandoning its forecast of two rate hikes for later this year in favour of no change. In one sense, this move … Read More

Who to believe – equities or bonds

Global equity markets recovered their poise last week, rising 2.5% in local currency terms and regaining their losses of the previous week and a bit more.  In sterling terms, however, the recovery in the pound back close to $1.33 left the gains rather more muted.

Testing times

Another supposed make-or-break week for Brexit looms. With little more than two weeks to go to B-Day, the route forward is none the clearer. Tree diagrams are all the vogue for illustrating the ways forward and new branches continue to sprout in an already tangled picture.  Indeed, the pound has lost its recent confidence that we are headed towards a … Read More

Looking on the bright side

Global equities edged higher last week – at least in local currency if not sterling terms due to a move up in the pound – continuing the rally of the last couple of months.

Spring has come too early

Global equities continued their recovery last week and are now up close to 13% from their low in sterling terms although are still some 5% below their 2018 high.  In essence, this bounce is a result of an easing of the worries of an imminent recession which spooked the markets late last year. This in turn can really be put … Read More

The recovery has continued

The recovery from last year’s equity market falls has largely continued led by the US which has seen a remarkable bounce of some 17% from the lows.  The pause in interest rate rises was a significant factor behind this, and the falls were overdone and a rebound was appropriate.  The newsflow remains as mixed as ever and none of the … Read More

So where do we go from here?

So where do we go from here?  It’s a good question and one that has many investors scratching their heads.  On the one hand, we have no really bad news.  On the other, there is an increasingly distinct trend of weakening economic and corporate earnings data.  To those who have seen cycles come and go, the phrase ‘twas ever thus’ … Read More

Patience is a virtue

The recovery in equities from their December low continued last week. Markets took comfort from a number of factors but the most important was the latest musings from the US Fed whose new mantra is patience. And, as far as the markets are concerned, patience is definitely a virtue. Whereas all of two months ago, the Fed was talking of … Read More

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