Monday Digest
Mind the money flow at quarter-endMarkets wobbled thanks to quarter-end rebalancing. Institutional investors are selling winners to bring portfolios back in line after a strong quarter. Rebalancing is temporary, although the scale of the sell-off hints that liquidity is becoming less abundant...
Monday Digest
From Wars to WarshThe US-Iran deal extending the ceasefire and reopening the Strait of Hormuz buoyed markets last week. Oil prices fell, global stocks rose and long-term bond yields settled. The Israel-Hezbollah exchange reminds us that the deal is fragile but, for...
Monday Digest
Stall, correction and reboundEquities started poorly but finished strong last week. The Trump 80th birthday present of the reopening of the Strait of Hormuz has ensured that equity markets are starting this week 1-2% above last week’s close. Bonds are also rejoicing...
Monday Digest
Markets decelerateA mostly quiet week ended with a jolt, after May’s stronger-than-expected US jobs report sent bond yields higher and equity markets lower. Investors had been rotating out of tech, but the jobs number shifted focus to potential rate rises, rather than...
Monday Digest
Calmer marketsGlobal stocks pushed up last week and have continued to move higher as this week starts, powered by semiconductor companies. News of a 60-day US-Iran ceasefire extension saw oil prices fall to $90pb, calming nerves and lowering bond yields. May turned...