“One of the few notable falls in markets in May came in oil, down 7%, taking it back to close to its level at the beginning of the year”
Monthly viewpoint – April 2024
“we are seeking opportunities to add to risk assets if equity markets continue their period of consolidation seen in April”
Monthly viewpoint – March 2024
“the most compelling markets remain the UK and Japan which trade at a discount to global peers and offer healthy dividends”
Monthly viewpoint – February 2024
“equities have been boosted by the
strength of tech and growth stocks,
especially those benefitting from the AI boom”
Monthly viewpoint – January 2024
“A disconnect is building between the market’s expectations for the pace and extent of cuts and the resilience of the economy. We therefore expect a period of consolidation ahead”
Monthly viewpoint – December 2023
There is good value in non-US markets, notably the UK, where valuations are
particularly attractive after a period of relative weakness
Monthly viewpoint – November 2023
The only notably weak market was oil. The initial surge in price following the Hamas attack on Israel has unwound as fears of a wider Middle East conflict have dissipated
Monthly viewpoint – October 2023
In an era of heightened geopolitical
risks, there is considerable uncertainty about the macroeconomic variables impacting policy, and hence on the timing of rate cuts, and the risk of policy error is rising