The Meme Generation
This week has had lots of quite important information but no single aspect has dominated. Equity markets are higher again, bond yields are stable and companies tell us that, on balance, things are difficult but okay. US retail investors are choosing to...
Higher and higher
Markets keep rising steadily and gently, on an incoming tide of liquidity. Investors appear to have plenty of cash and are happy to deploy it into risk assets, largely thanks to expectations of interest rate cuts. Both intraday and day-to-day stock market...
Trump turns nasty; markets turn nice
It felt like the first week of summer holidays. Stock market volatility dropped again – both in measured and implied terms – and the 9 July deadline on Donald Trump’s tariff moratorium was no deadline at all. The US president pushed back...
Markets bask in the sunshine
Sunshine and all-time highs this week. US stocks started their 4th of July holiday in fine spirits. Encouragingly, smaller and mid-cap American companies have outperformed the ‘Magnificent Seven’ tech stocks over the last fortnight, and were buoyed again by Thursday’s strong jobs...