Investment Commentary

The global economy is firing on all cylinders, and this appears set to continue in 2018.  With inflation still well below target, policymakers are keen to promote growth while gradually removing stimulus measures. The sharp increase in corporate profitability has...

Robust global growth, low inflation and negative real interest rates should provide a supportive backdrop for financial markets.  Global GDP is expected to accelerate again next year to 3.4% - well above the 2.5% achieved in 2016.  Although inflation remains below...

Synchronised global growth, low inflation, favourable financial conditions and higher corporate profits have supported risk assets for much of 2017. The linear rise on the S&P 500 continued in September with the index gaining 48 to close at an all-time high of 2,519. ...

The synchronised global expansion continued in August despite increasing tension between North Korea and the US. Most financial markets regained their composure by month end with the FTSE100 gaining 59 to 7,430.  The S&P 500 was unchanged at 2,471 – the narrower based...

Risk assets produced a mixed performance regionally in July. Helped by a weaker dollar, the S&P 500 gained 47 to 2,470 with the Dow Jones Industrial breaking through 22,000 in early August.  The FTSE100 rose 59 to 7,372 while there was an even stronger upward move by...

Equity markets in the US, Japan and Asia made further progress in June although European equities gave back some of their previous gains. For sterling-based investors, dollar weakness meant global returns were marginally negative. The broadly based S&P 500 gained 11...

After seven weeks of campaigning and two electioneering suspensions, due to the tragic Manchester and London terror attacks, the jury – in the form of the electorate – has delivered its verdict. After a tense night, the Conservative Party has emerged as the largest...

Financial markets consolidated in April with mixed results across regional equities and small positive returns for fixed interest - notably, for UK investors, index-linked gilts. While the S&P 500 rose 21 to 2,384 and the FTSEurofirst 16 to 1,519 - both reflecting...

The modest acceleration in global economic growth that started last autumn continued in the first quarter but - as buoyant sentiment measures are probably over-stating the upturn - real GDP growth estimates of 2.8% this year and 3.2% in 2018 are unchanged. Headline...

Financial assets made broad-based gains in February. The S&P 500 reached a new all-time high closing up 85 at 2,363 while the narrowly based Dow Jones gained nearly 5%. The FTSE100 and Eurofirst 300 indices rose similar amounts in local currency terms adding 164 and...