‘Sleepy Joe’ wakes up the US economy

Things are looking good for President Biden as his hundredth day in office passes. The US economy grew by a very healthy annualised 6.4% during the first quarter. While overall growth was a little less than expected, personal consumption accelerated more than 10%. The reason this is not proportionally reflected in GDP growth is because…

Doubling of earnings leaves markets cold

After last week’s lull in global equity markets, most regions recovered their previous highs this week, albeit in somewhat lacklustre trading patterns. Just as there were several reasons why markets were in a bad mood last week, there are many reasons for the more positive outlook this week. Those who were most fearful of geopolitical…

Housing market: still hot property

Markets and the public are eagerly anticipating the economic recovery, when last year’s lockdown bust will make way for the post-pandemic boom in growth. A combination of incredibly supportive monetary and fiscal policy, together with a rapid vaccination programme in the UK and US (and now belatedly picking up steam in Europe), has led to…

Markets shrug off German political drama

For well over a decade, Germany’s political system has looked the picture of stability. Chancellor Angela Merkel has reigned for so long she is often considered the de facto leader of Europe as well as its largest nation – her tenure marked and prolonged by a history of compromise and coalition with Germany’s other leading…

Hold on tight for a gangbuster earnings season

As parts of the world economy slowly opens up, capital markets are pushing ever higher. That investor optimism has been a mainstay since the dramatic sell-off a year ago, driven by huge amounts of monetary and fiscal support, and the hope that global growth will come through in full force after the pandemic. But after…

Centrist Biden puts global taxation in his sights

In the long run-up to last year’s US election, Joe Biden was seen as the uninspiring compromise candidate. An old establishment Washington D.C. type, with decades of top-level political experience and firm centrist credentials. Now President, he fended off challenges from the left of the Democratic Party and gave observers a sense that the status…