Pound hits new low despite Osborne’s intervention
George Osborne broke his silence on Monday in an attempt to soften the blow to sterling and calm markets, but the pound dropped against the dollar to a fresh 31-year low of $1.3218 in morning trade.
Macro News
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Brexit stokes pension fears and uncertainty among expats
British expats living overseas face a period of uncertainty around retirement plans after the UK’s shocking decision to leave the European Union on Friday, according to IFA firms around the world.
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How Brexit will hit offshore financial centres
The UK narrowly voted on Thursday (52:48) to leave the European Union, an unprecedented move with an unclear outcome. What follows will undoubtedly be at least two years of uncertainty, but how will the offshore financial centres fare?
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Large Remain bets wrong-footed bookies and investors
Last week Portfolio Adviser suggested that the bookmakers’ odds strongly favouring a British vote to stay in the EU were not as reliable as many fund managers thought. And right we were…
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‘No renegotiation’ promises EU leadership
In a joint statement on Friday, the EU leadership urged the UK to start departure processes immediately as “any delay would unnecessarily prolong uncertainty”.
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Carney reassures markets as banks tumble
As banking stocks plummeted on Friday morning, Bank of England governor, Mark Carney sought to remind the market that they are in good health and reassure investors the BoE stands ready to do whatever is needed.
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Pressure builds on RMB after Brexit
China’s yuan as well as regional currencies are likely to see selling pressure, according to analysts who opined on the outcome of today’s vote.
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Investors should brace themselves regardless of Brexit vote result – UBS
An “acrimonious” Brexit is likely to lead to Bank of England rate cuts, flailing FTSE indices and fall in consumer confidence, according to head of UK Investment Office at UBS Wealth Management, Bill O’Neill, and UK economist at UBS Investment Bank, David Tinsley.
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UK unemployment hits 11-year low
The United Kingdom’s unemployment rate fell to an 11-year low of 5% in the three months to April, data released this morning showed.
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MSCI tells China ‘No for now’
For the third time since 2013, the US index provider rejected the inclusion of China A-shares in its flagship emerging market indices, highlighting key unresolved issues.
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Schroders picks out its biggest fears
Some of Schroders best known fund managers have picked out what they see as the biggest concerns for investors in the near term.
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Fed rate rise expectations pushed back
A Federal Reserve interest rate rise this month is now widely considered off the table after the latest non-farm payroll number came in significantly below forecasts.