We tend to concentrate in this newsletter on just the financial metrics, bond yields, equity returns and all that jazz. I like to throw in a bit about music and films and the footy every so often to give us all a bit of a break from the heavy stuff...
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The much-derided euro is now the currency of choice following the announcement of an EU fiscal package which for the first time involves debt mutualisation and the promise of a unified rather than single country fiscal policy in the future...
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Government Bonds, conventional and linkers, have been the safest of havens this year, posting strong returns...
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The stock market has been very rational in rewarding the winners (tech, healthcare) and pounding the losers (energy, banks). But has this gone too far?...
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The investment contradiction is massive and obvious, we’re in the middle of a pandemic, economic growth has cratered, opening up economies is bringing the virus back but stock markets, bar in the UK, have made a near full recovery. How come?...
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Wall Street has produced positive returns for investors even in this cursed year, courtesy of its 30% weighting in the rampant technology sector, showing that sector composition has been a more important driver of markets than geography...
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Forecasts have been edging up over the last couple of months but what has become painfully apparent is the trade-off between economic growth and public health...
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Economic data is steadily recovering and the market is ‘looking through’ this year’s dreadful recession to a meaningful recovery in growth and earnings next year...
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You have your own political views, you are assaulted by everyone else’s
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