Markets in brace position
Capital markets feel more tense than at any point since the beginning of September. Global stocks have sold off slightly this week, but without sharp moves. It would be wrong to say that investors are fearful. In general, the global economic outlook...
Focus returns to stock market fundamentals
Capital markets quietened down this week. Global stocks are up from a week ago, and there is a sense that anxieties are fading. Risks and uncertainties have not gone away completely, but their short-term impacts on risk assets look smaller. There was...
Buy the rumour, sell the fact
For a week with so many competing market narratives, global stocks were fairly stable. However, the S&P 500 continues to hit new highs and is doing so as we write. Broadly, US equities were stronger despite higher than expected inflation data, while...
Why are markets so calm?
Raised tensions in the Middle East have dominated the headlines this week. Capital markets are obviously not the most humanly important consideration in this situation, but our job as investment managers is to think about how they might react. Initially, global stocks...