Markets doubt the Fed doves

Interest rates are on hold for years to come, according to the latest announcement from the US Federal Reserve (Fed). After its two-day meeting, monetary policymakers resolved to keep interest rates close to zero, and signalled more of the same until at least 2024. This comes despite upgrades to the Fed’s own economic forecasts, which…

Tug of war: bonds vs. equities

Next week will mark the anniversary of the turning point of the 2020 COVID stock market crash. Investors looking at their one-year portfolio returns may well be astonished to find double-digit return figures, ranging from around 15% for lower risk strategies to close to 50% for pure global equity portfolios. Alas, don’t expect a repeat…