News & Insights
Is a recession likely, or are we merely facing a period of slower economic growth?
Global economic projections have been rising across the board in the past quarter. However, expectations at the start of the year were probably too bearish, meaning some of the re-rating is a natural adjustment. Nonetheless, the underlying growth momentum has...
ANDPAPERS Q3 2023 | ARE WE CLOSER TO AN INFLECTION POINT?
In the last 12 months, financial conditions have tightened to an unprecedented degree, including a rise in the Fed Funds rate from 1% to 5%. But the lack of damage to the financial system is surprising with the total sum of financial failures limited to just one large...
THE DEBRIEF | Q3 2023
We invite you to sit down with our Chief Investment Officer, Pau Morilla Giner, and Head of the Private Investment Office, Iain Tait, as they debrief on the last quarter and look ahead to potential market trends for Q3 2023. They examine the geo-political shifts,...
HEPHEASTUS FORGED A MAGNIFICENT ARMOUR FOR ACHILLES INSURERS NEED DURATION AND CONVEXITY
Strengthening your armour In previous instalments of our Greek mythology series, we explored the similarities between investment risk and the Lernaean multi-headed Hydra (see link). We also looked at the ancient Greek poem The Shepherd and The Sea and what that...
Note from the CIO 15.06.2023
UK government bonds have seen the largest selloff since October’s “mini budget” crisis, with 2-year gilts hitting a peak of 4.9% yesterday (highest since 2008). THIS IS NOT A REPEAT OF OCTOBER MOVES A big question is if this is a repeat to what we saw in October,...
London & Capital appoints Dayleen Van Zyl as Chief People Officer
London & Capital is delighted to announce the appointment of Dayleen Van Zyl as Chief People Officer. With her extensive experience and expertise in people management and culture development, Dayleen brings a new dimension to the firm's leadership team. Dayleen...
The inflation conundrum
Inflation appears to have peaked in most major economies, but it remains uncomfortably high and well above target levels, and is likely to persist above target levels into 2024. Central banks are not arguing that the inflation problem has been resolved, but markets...
Financial Instability: Assessing the Current Banking Crisis
The Fed has financial stability as one of its three targets for monetary policy (inflation at 2% and full employment being the other two of course). All other central banks are less explicit but mimic the Fed when push comes to shove. The odds of the financial...
It just got messy.
Just when it seemed that the central banks could focus solely on inflation, a potential banking crisis has emerged that may derail their plans for a smooth landing and lower inflation. While policymakers appear calm on the surface, like an elegant swan floating across...
ANDPAPERS Q2 2023 | THE BALANCING ACT
The first quarter of 2023 began with positive sentiment on the growth outlook, as energy costs fell and China’s economy showed tentative signs of reopening. However, the mid-March collapse of Silicon Valley Bank (SVB) and Credit Suisse (CS) served as a sharp reminder...
THE DEBRIEF | Q2 2023
We invite you to sit down with our Chief Investment Officer, Pau Morilla Giner, and Head of the Private Investment Office, Iain Tait, as they debrief on the last quarter and look ahead to potential market trends for Q2 2023. They examine the geo-political shifts,...
Q2 Economic Update
It just got messy Just when it seemed that the Central Banks could focus just on inflation, along comes a “potential” banking crisis that may yet derail their well-laid plans for a smooth landing and lower inflation. On the surface the policymakers look calm and...