BoE positivity ‘undermined’ by Brexit uncertainty
Uncertainty over the future of the UK’s Brexit negotiations tempered Bank of England forecasts published on Thursday (11 May).
Macro News
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JP Morgan: Time to start loving industrials again
The global economy is finally emerging from the doldrums of the financial crisis and it is a prime time to move into more ‘unloved’ industries says Francesco Conte, co-manager of JP Morgan’s European Smaller Companies Investment Trust.
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Mumford: Ignore Glaxo, smaller healthcare stocks have better prospects
Increasing pressure on the market’s healthcare giants makes them unattractive compared to more exciting smaller companies, Cavendish’s Paul Mumford has said.
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Markets ‘march on’ and euro gains on dollar after Macron win
Financial markets were buoyed by Emmanuel Macron’s victory in the French presidential election, as the euro soared against the greenback.
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The five other presidents who trumped the ‘Trump Bump’
US equity specialist Charles Schwab has poured scorn on the stock market’s so-called ‘Trump Bump’, with research showing the 5.4% market rally is far from the greatest seen during a president’s first 100 days in office.
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Bankers ‘unhappy’ with bonuses
Most London bankers are unhappy with their bonuses but are ‘shackled’ to their jobs to maintain their lifestyles, according to research by salary-benchmarking site Emolument.
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Progeny: Early rate hike biggest risk to UK investors
Away from the ‘noise’ surrounding the UK general election, Progeny’s investment manager David Battersby fears the threat of an interest rate hike could be closer than investors think.
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VanEck: The asset all bond portfolios should hold
Outperforming emerging market corporate bonds should be an integral part of a fixed income portfolio, analysts at global asset manager VanEck have said.
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Pimco warns on passive investing ‘free riding’
Passive management in the fund industry could lead to “free riding, adverse selection and moral hazard” if left unchecked, according to investment giant Pimco.
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US growth drops to weakest in three years
US real GDP increased at an annual rate of 0.7% in the first quarter, the slowest pace since the first quarter of 2014.
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Waverton: Massive ETF flows ‘distorting emerging markets’
Rapid inflows into emerging-market ETFs have distorted Asian markets, according to Waverton Invesment Management’s Brook Tellwright.
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‘Confusing’ Draghi speech confirms ECB to hold rates
ECB president Mario Draghi confirmed European interest rates would remain unchanged on Thursday, in what senior investment managers described as a “confusing” performance.