Anyone hoping for infrastructure spending plans on a Trumpian scale was disappointed on Tuesday by what most commentators described as a cautious and pragmatic Autumn Statement from Philip Hammond.
Ignore the politics. If there’s one takeaway for investors from 2016, it’s the move from growth to value.
Benchmarks are a vital part of the asset management sector. Funds are measured against them, bonuses worked out in relation to them and entire sectors of the industry predicated upon them. But, if recent trends are extrapolated outwards, the days of the benchmark in its current form should be numbered.
Unsurprisingly, most of the responses hitting the inboxes of industry journalists through the course of an otherwise quiet Friday began with “welcoming” messages to the FCA interim report on the asset management industry.
Asset allocators moved materially back into fixed income in the third quarter, often at the expense of absolute return funds, Natixis said on Wednesday.
The dollar has rallied in recent days as investors believe stronger US GDP growth and Fed rate hikes will push the greenback up. But markets are ignoring the forces that are likely to drag the dollar down in the longer term.
Winter is coming, but instead of flying south the flock of black swans that has pecked away at 30 years of globalisation this year is heading east toward Europe.
Ever get the feeling you’ve been cheated? As I write, the masses are rebelling against a momentous decision that has thrown the free world off its axis… and that’s just the changing shape of the Toblerone.
Bond investors are strapped in for an explosive month ahead as more questions were raised over the next Fed rate rise, following today’s US election result.
As Donald Trump’s win in the presidential election became inevitable overnight, the dollar fell against other major currencies but this was quickly reversed following his conciliatory victory speech.
Election day in America has finally arrived and the world is busy digesting the outcome, but if you are going to miss dawn-to-dusk political coverage do not despair, there are plenty more twists and turns to come.
There is an aspirational timbre to the slogan “Make America great again” that belies its dog-whistle like nature.
