Market Updates

ANDPAPERS Q1 2023 | CENTRAL BANKS DIVERGING

ANDPAPERS Q1 2023 | CENTRAL BANKS DIVERGING

“There are decades where nothing happens, and years when decades happen.” 2022 was indeed one of those years. In February, Russia’s amassing of troops on Ukraine’s border quickly erupted in an armed conflict that is still ongoing. This caused oil and gas prices to...

The Debrief | Q1 2023

The Debrief | Q1 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 Q1 2022. They examine the geo-political shifts,...

AUTUMN STATEMENT – FIXED INCOME REACTION

AUTUMN STATEMENT – FIXED INCOME REACTION

Given the intense anticipation for the Autumn Statement please find below our market update and a summary of the macro impact. Post Autumn Statement Market Update The fiscal consolidation package, alongside Hunt’s reiteration of his support for the Bank of England...

UNCERTAINTY, INFLATION AND THE US FEDERAL RESERVE

UNCERTAINTY, INFLATION AND THE US FEDERAL RESERVE

The markets have been on a rollercoaster ride over the past couple of weeks. Initially there was a significant drop in equities and a rise in bond yields following the US Federal Reserve (Fed) statements on the 2nd of November. This was quickly followed by a large...

Can the central banks pull off a soft landing?

Can the central banks pull off a soft landing?

There is an increasingly big gap appearing between official economic forecasts (the consensus is for a soft landing) and market expectations (inverted yield curves, higher market volatility, and falling risk assets) that are beginning to discount a greater probability...

What are central banks trying to achieve?

What are central banks trying to achieve?

The focus seems to be on demand destruction to take inflation back to target. Fed set on a quick path to a terminal rate above.4%. ECB and BoE following suit, even with weaker economies. Some central banks (BoC and RBA) taking their foot off the pedal. Central Bank...

ANDPAPERS Q4 2022 | WINTER IS COMING

ANDPAPERS Q4 2022 | WINTER IS COMING

Q3 began with a glimmer of hope for markets. Expectations that the Fed could start to pivot (given concerns about slowing growth) translated into a significant rebound from mid-June lows. By mid-August, the rally had come to a screeching halt: a high US inflation...

The Debrief  | Q4 2022

The Debrief | Q4 2022

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 Q4 2022. They examine the geo-political shifts,...

NOTE FROM THE CIO 30.08.2022

NOTE FROM THE CIO 30.08.2022

The first six months of 2022 were particularly challenging for investors: central banks became increasingly determined to rein in inflation at a time when several factors (including Ukraine conflict) kept pushing up inflationary pressures. As a result, US Stocks and...