Cautious optimism follows Liz Truss resignation
Markets have hinted at a brighter future as the PM steps down but the race to replace her is just getting started
Government
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Credibility issues put bond investors off UK
JP Morgan AM and Jupiter managers among those reluctant to tap into climbing gilt yields
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Somerset CEO leaves to take up government post
Dominic Johnson will once again work alongside the firm’s co-founder Jacob Rees-Mogg
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BNY Mellon names government adviser as chief economist
Shamik Dhar joins from the Foreign and Commonwealth Office
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US government shutdown sees pound climb
The prospect of a US government shutdown has seen the pound climb to its highest level against the dollar since Brexit, while cryptocurrency Bitcoin continues to decline.
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Budget 2017: What asset managers should know
A long-term strategy for the asset management industry was among the raft of measures announced in Wednesday’s budget, alongside news of slowing growth, slashed Stamp Duty and an extra £3bn in the Brexit pot.
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Fewer investors now see bonds as overvalued – CFA
UK investor sentiment toward bonds is improving a new survey by the CFA society of the UK has revealed.
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Tax concerns mount while richer clients claim manager disatisfaction
Almost half of high net-worths have cited climbing tax rates as their number one concern, while those unhappy with their current wealth manager tend to have more investable capital.
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Investors should hold fire on RBS
The government selling 5.4% of its RBS stake provides an opportunity say industry experts, but it will be years before investors should buy in.
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Positive sentiment on chinese banks ignores govt. stranglehold
The consensus view that China’s cuts to banks’ required reserve ratios were a stimulative measure is negated by the mechanics of Chinese banking system itself, says Matthews Asia’s Andy Rothman.
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Asset managers should expect increased scrutiny
Suitability standards in the asset management industry are set to come under Financial Conduct Authority scrutiny in 2015/16, the regulator said in its business plan for the period.
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Govt report expected to criticise
The UKs financial watchdog will face serious criticism this week over its announcement of an inquiry which caused stocks to plummet across the insurance market, reports suggest.
