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The northern hemisphere has now entered the brighter half of the year, the days getting longer, lighter and warmer. Financial markets are also brightening. This week has been good across the global board for equities and bonds. The most obvious reason for...

ESG: No such thing as bad press? ESG investing provokes some strong reactions, to put it lightly. A quick search for “ESG controversy” reveals more articles about why the style of investing itself is controversial than it does about investments which are...

Overview: Rates up, down, and going sideways Bond prices slid last week while consolidation continued in the global equity markets. Notably, Japan was weaker and US large caps largely unchanged. There was a sense of disappointment, that left investors wondering if optimism...

Consolidation continued in most equity markets this week, although bond prices did actually drop somewhat. UK and European equity markets are stronger, Japan is weaker and US large caps are largely unchanged, although there is a sense of mild disappointment as investors...

Overview: At least currency markets noticed the budget Markets gained again last week, with the S&P 500 hitting another all-time high. But thanks to sterling gaining 1.5% against the US dollar, our table shows negative index returns. Sterling strength may be partly...

This week has seen global markets showing gains again. The FTSE 100 is a little lower but the US S&P 500 hit another all-time high, driven by renewed interest in megacaps. Bond prices rose and sterling is stronger against the US Dollar....

Is pharma the next AI? The stunning share price jumps of companies like Nvidia has led to questions of what’s next for AI investment. This is not a stock recommendation of any kind, but on the current path Eli Lilly  could possibly...

Overview: Winners and losers of stabilising yieldsLast week was one of positive price action in equities, although the US mega-caps did less well, while bond markets were rather stable. Indeed, stable bond markets are one of the reasons why equity markets can...

We ended February and start March with a week of positive price action in equities, although the US mega-caps did less well generally, while bond markets were rather stable. Indeed, we think stable bond markets – pretty much since the beginning of...

Just when you thought you’d seen it all, reality often proves you wrong. By now, most will have seen the headlines and digested Nvidia’s stunning results, with profits in its data centre unit [which includes its AI chips to you and me]...

Overview: M&A activity sets growth against valueEquities moved higher again last week, with gains made across global markets. Even China put in another week of positive returns following the largest ever cut to the five-year housing loan prime rate (admittedly only 0.25%)....

Equities have moved higher again this week, with gains made across global markets. Even China put in another week of positive returns, following the largest ever-cut to the five-year housing loan prime rate (admittedly only 0.25%). Government bonds have not done so...

An interesting report from the Resolution Foundation examining intergenerational wealth and income trends reveals interesting trends about the UK labour market and intergenerational equality. In inflation adjusted terms, UK workforce pay has stopped improving. A trend from 1941 to almost 1980 has...

Overview: The UK is not growing in real terms or nominal termsThe UK is in a technical recession, defined as two quarters of real growth contraction. Meanwhile, last week’s release of UK jobs market data for December showed surprising tightness. The unemployment...

As regular readers will know, we tend not to comment on UK matters as much as some, partly because the investment portfolios we manage for UK clients are quite globally focused. But the UK as our home is important to us and...

The end of greenwashing? From May, ESG investments in the UK will have to comply with a stricter set of anti ‘greenwashing’ rules. Several were announced by the Financial Conduct Authority (FCA) last November, and the watchdog is now taking a consultation...

Where next for lending standards? The US Senior Loan Officer Opinion Survey (SLOOS) is a quarterly survey conducted by the Federal Reserve Board on bank credit availability and loan demand. It shows that lending remains tight, but fewer banks were tightening their...

Overview: are US stocks bubbling up?Last week, the US large-cap equity market shook off the rest of the world, and the S&P 500 marched to another new milestone, trading above 5,000 for the first time. But the stand-out performer of the week...

This was the week when the US large-cap equity market shook off the rest of the world and marched to yet another new milestone. The S&P 500 traded above 5,000 for the first time on Thursday night. It also shook off another...

Cracking the Zodiac Code: will the dragon hoard wealth or breathe fire on investments? The new Chinese Celestial Year is approaching so as part of the occasion we took a look at the Hang Seng Index, exploring annual returns through the lens...