News

Whether in terms of sanctions, the downturn in international trade or supply shortages, the war in Ukraine is proving costly […]

The US consumer price index rose 8.6% in the year to March, or 6.5% excluding food and energy. We have […]

The war between Russian and Ukraine has overshadowed a major financial development since the start of the year: the decision […]

With a reported 8.1% increase in real GDP in 2021, China’s economic growth is the envy of almost all developed […]

2021 featured a shift in US monetary policy. All year, the world’s financial markets kept a close watch on Federal Reserve […]

Although the press is now focusing on the new Omicron coronavirus variant, which has rekindled fears of a new chapter […]

Shortages of semi-conductors have been a hot topic recently. The surge in their prices during the post-Covid recovery is unprecedented: a […]

Angela Merkel has been Germany’s Chancellor since 2005 but is set to retire as soon as a successor emerges from […]

Having been expected to peak in Q2, the US inflation rate topped out during the summer. It climbed from 1.4% at […]

The bizarre ‘disappearance’ of Alibaba founder and executive chairman Jack Ma for several months has got to be the Chinese […]

Despite positive macro and micro momentum, investors are starting to worry about the strength of the current rally, now a […]

Following the OECD in March, the IMF is now preaching optimism on the outlook for growth. Against a backdrop of a […]

For almost two months now, financial commentators have been working themselves into a frenzy over a supposed return of inflation. […]

There’s no slowing China. Like everywhere else, it suffered early last year from the pandemic but its economy rebounded smartly […]

Covid was Donald Trump’s downfall. It turned Wall Street and his financial backers against him, despite what he could offer […]

For the 30 years of its existence, this monthly letter has attempted to offer original insights into the state of […]

Although the second wave of the pandemic is killing more people than the first, a series of announcements on vaccines […]

This month’s theme reflects the death toll from the coronavirus pandemic, and particularly its alarming rise in countries where individual […]

The coronavirus alarm bells started ringing as soon as Europe’s all but sacred summer holidays ended. The number of cases has […]

While the media are focused on an apparently endless cycle of Covid news, Wall Street has been setting one imagination-defying […]

Covid-19 is still making its relentless way around the planet, and even where it was supposed to be done with […]

Covid-19 restrictions are being lifted around much of the planet, and at rates that depend on when countries first suffered […]

‘Fed up’ would be an understatement for the sizeable chunk of humanity locked down for weeks on end, but fortunately […]

The VIX index hit 83% on 16 March, which was the day when the S&P 500 slumped 12%. That beat […]

On 25 January, we asked “Is the party over?” and now it really is. It has long been assumed that […]

Following all that champagne at the end of a remarkable 2019, equity markets carried on partying into January. The immediate […]

What an end to the year! The overall gain for the world equities index in 2019 was 28.1%, while the […]

Apart from a continuing rally on the back of unchanged fundamentals, there is little new to report on equity markets. The […]

The slightly heady mood imparted by better news on China, an almost-done Brexit deal and very low interest rates left […]

This time last year, high long rates and the trade war kicked off what turned out to be a 20% […]

Donald Trump’s “America first” policy has not won him many friends abroad. Having created conflicts with China, Mexico, and Japan, […]

Mea culpa! We failed to pick a further slide in interest rates and missed out on our own model’s S&P […]

Each time the equity markets wobble and the yield curve inverts, investors start worrying about the next slowdown or recession […]

US equities have clawed back the losses they suffered during the correction late last year, and at 2,940 points at […]

The Federal Reserve has pulled off a monetary policy U-turn since the severe stock market correction late last year. Investors […]

The markets appear to have stabilised after an extremely volatile end to 2018. In line with a strong rally that […]

In our 21 December edition we argued that an S&P 500 at 2,426 points was already a low that priced […]