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Autumn but no fall Markets ended last week with all-time highs, but investors remain uneasily positive. We have noticed a disconnect between people’s pessimism and recently strong investment returns. With global inflation coming down business confidence better than expected, the outlook is...

Bounce and braceGlobal risk assets finally ended with a bounce last week, with portfolios still closer to where they were at the beginning of October than the highs touched before Trump’s 100% tariff threat on China. The pull-back has been healthy, considering...

Volatility on the horizonStocks were pushing all-time highs early last week, but sold off sharply after Trump’s tariff threats against China. At the open in Asian markets there was further selling but this lasted only minutes. From thereon there was healthy “dip...

Nothing shuts down the stock marketsGlobal stocks bumped up last week, despite the US government shutdown. Perhaps markets expect a resolution, or perhaps only a mild economic impact. When US government shutdowns are short, they rarely hurt the economy too much. The...