Market Bulletin – Pinball Pound

Pinball Pound

Brexit developments sent sterling careering, while fears over China and banks weighed on global markets. “Minister, Britain has had the same foreign policy objective for at least the last 500 years: to create a disunited Europe,” said Sir Humphrey Appleby, the slippery senior civil servant in the 1980s TV comedy, Yes Minister. “We had to break the [read more]

Market Bulletin – Cutting Edges

Cutting Edges

Trade tensions reached a new level on technology fears, pushing down stocks around the world. Over the long term, China can lay claim to pioneering some of the world’s most significant inventions. Gunpowder, paper, the compass and printing may be the famous four that Chinese schoolchildren memorise in school, but there are many more; among [read more]

Market Bulletin – Positional Play

Positional Play

Relationships between major powers continued to fray midweek, but a US-China trade ceasefire was agreed over the weekend. Half a league, half a league, Half a league onward, All in the valley of Death Rode the six hundred. “Forward, the Light Brigade!” So opened Tennyson’s poem describing the mistaken British charge against a Russian artillery [read more]

Market Bulletin – Technology Revolutions

Technology Revolution

Trouble for technology stocks dominated US markets, while growth and trade fears weighed on sentiment globally. Steamships and railroads opened up the nineteenth century world; electricity, gas and oil powered the new industrial processes of the twentieth. Such shifts were mirrored on stock markets. In 1917, the largest stock on US markets was US Steel, [read more]

Market Bulletin – A Good Deal Worse?

A Good Deal Worse?

May’s Brexit deal split her Cabinet, imperilled her leadership, and rocked markets. There are decades when nothing happens and there are weeks, said Lenin, when decades happen. Has the UK just been through one of those weeks? There are reasons to think so. When Theresa May delivered first a Brexit deal and then Cabinet approval [read more]

Market Bulletin – Distant Horizons

Distant Horizon

In a week marred by violence on both sides of the Atlantic, positive indicators in leading economies could not prevent markets delivering a mixed performance. “The future influences the present just as much as the past,” said Friedrich Nietzsche – an insight that could surely be applied to markets. Events in the US last week [read more]

Market Bulletin – Pressure Point

On the tenth anniversary of the global financial crisis, the greatest risks appeared to be geopolitical rather than financial. Wednesday marked ten years since the beginning of the global financial crisis, and its consequences continue to be felt on markets and in politics to this day. Indeed, the crisis was so momentous that commentators tend [read more]

Market Bulletin – Tuning Out

Global growth, commodity prices and corporate earnings offered positives, as leading indices diverged. “Trying is the first step towards failure,” warned Homer Simpson – investors tempted to overreact should take note, perhaps most of all during earnings season. The ebb and flow of this year’s second-quarter earnings continued last week, accompanied by ongoing geopolitical tensions. [read more]

Market Bulletin – Bittersweet

A busy week of news for company earnings and economic growth ends with a tumble for technology and tobacco stocks. It’s true. Chocolates really are getting smaller. Some bags of Maltesers have shrunk by 15%: indeed, 2,529 products have decreased in size in the last five years, while just 614 have got bigger, according to [read more]

Market Bulletin – Courtship Display

Earnings season offered reasonable signs of economic momentum, while central banks largely chose to sit on their hands. When the male frigatebird is trying to attract a partner, he spends almost half an hour inflating his red gular pouch until it reaches close to half the size of his body. Companies courting investors ahead of [read more]