The Biden reflation

Officials within the Biden administration have stated that the new US government “will take action – not just to reverse the gravest damages of the Trump administration – but also to start moving our country forward”. Few things on the agenda promise to move the US forward more than Biden’s fiscal plans. The White House…

Are earnings keeping up with expectations?

Despite the upheaval of the past year, in investment terms we have started 2021 in much the same position we were 12 months ago – before the pandemic. The extraordinary support provided by central banks has kept the global financial system awash with liquidity. US stock markets are trading at all-time highs, while major equity…

A sigh of relief

As Joe Biden was inaugurated as the 46th president of the United States this Wednesday, a collective sigh of relief, at the return of civility, decency and a genuine interest in the wellbeing of all citizens, could be felt around the world. Perhaps not one of the great inaugural speeches of US history, and one…