Don’t fear the rebalance
The rough patch for global stocks continues. Equities had a fairly dramatic fall on Wednesday, led yet again by the US large-caps. Wednesday saw both the S&P 500 and the Nasdaq experiencing their worst single-day losses since 2022, and the US volatility...
Shock, rotation, growth
Shock, rotation, growth?It has been an astounding week. Capital markets took the attempted assassination of Donald Trump as practical confirmation of his victory in the upcoming presidential election. Equities moved to price in his expected agenda of tax cuts and deregulation, expectations...
Lower inflation, less profits?
It has been an interesting week in capital markets. Global stocks are a nudge above where they were last Friday in aggregate, but this hides a great deal of variation. There was a steady climb early in the week, led once again...
New government, same economy
Keir Starmer was not wrong when he called this an historic victory. It is the Labour party’s first election win since 2005, ending 14 years of Conservative rule and handing the latter party its worst ever defeat. The results were emphatic, but...