Theresa May could raid pensions for Brexit promise
Abolishing higher rate pension tax relief and upper earnings limit on national insurance both on the table
Macro News
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BoE rate decision reveals surprise hawk
The Bank of England (BoE) has held interest rates at 0.5% but the central bank’s chief economist has surprised markets by siding with the hawks at the latest monetary policy committee (MPC) meeting.
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Multi-asset boutique increases European exposure
Boutique asset manager Kestrel Investment Partners is increasing exposure to Europe’s financial, telecom and pharmaceutical sectors on the back of the European Central Bank’s quantitative easing (QE) decision.
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Saudi Arabia added to the MSCI EM index
Saudi Arabia has been upgraded by index provider MSCI to its emerging market index, alongside Argentina, which has re-entered the index after being dropped in 2009.
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ECB to end quantitative easing
The European Central Bank has set an end date for quantitative easing, stating purchases will be halved after September before the programme ends in December.
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Five investor takes on the US Fed dot plot
The US Federal Reserve is looking increasingly hawkish as it votes to raise rates to 1.75% to 2%, while its dot plot of Federal Open Market Committee members expectations indicates two more hikes to come in 2018.
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Aggressive Fed warned not to overcook it
A hawkish US Federal Reserve has bumped interest rates by 25 basis points and hinted at two more rises by the end of the year, but industry figures believe over-aggressive tightening risks derailing the Trump trade.
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Summer rate rise less likely on stubborn inflation
Stubborn inflation data and an unexpected decline in wage growth have made a summer rate rise look like an increasingly distant possibility.
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‘Decoupling back in vogue’: US equity sentiment turns positive
Global fund managers are finally turning positive on US equities and commodities while sentiment towards Europe and emerging markets has cooled, according to the latest Bank of America Merrill Lynch fund manager survey.
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Managers position for weak US dollar
Investment managers are positioned for long-term weakness in the US dollar, sticking by emerging markets, despite recent strength in the currency.
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China’s MSCI inclusion: Big step, little change
Index provider MSCI has formally included about 230 China A-shares into its three widely-tracked indices, but fund managers see a minimal impact on the A-share market.
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Transact FTSE 250 entry leads the way for platform IPOs
The entry of Transact parent Integrafin into the FTSE 250 index has been described as good news for rival platforms and wealth managers considering a listing.