India revisited

Indian equities have been on a roll. Since the global sell-off through the end of February and March, Indian stocks have recovered over 40%. That still leaves the Indian market down around 2% year- to-date, but compared to other emerging markets, India is faring well, outrunning China particularly over the past couple of weeks. One…

Brexit Negotiations

Watching and waiting

A noticeable winter chill is in the air this week. The threat of fresh lockdown measures has become reality, with renewed restrictions coming into force not just in the UK, but across most of continental Europe as well. But unfortunately, the UK – once again – is faring particularly badly in virus terms. At the…

UK and EU

UK and EU

It may be the hundredth time saying this, but despite the all-dominating focus on COVID, it is now also Brexit crunch time, given the UK government rejected the offer of a further extension when the lockdown ‘sabotaged’ the already tight negotiation schedule. Britain’s official transition period of EU membership still only lasts until the end…

Global Markets

Baffling market optimism

Following the unsteadiness of September, markets have further regained their composure and continue to drift upwards. This stands in stark contrast to the flow of bad news. The White House, centre of power for the mighty US, has become a COVID hotspot, similar to many regions across Europe and the UK. Meanwhile, the Brexit negotiation…

Global Stock Markets

State of the global economy

Throughout the middle of this year, we saw an impressive bounce back in economic activity. While the global economic shutdown had frozen business and manufacturing activity, the opening-up into the summer months suggested we may be on course for a sharp V-shaped recovery. Purchasing Managers’ Indices (PMIs) – a survey-based measure of business confidence –…

Commodities

Reflation Reality Check

As rain and wind flush out the heat of the last few months, there’s a noticeable chill in the air for capital markets. For investors, things looked bright between June and August. The economy was finding its feet again, lockdown restrictions continued to lift, and central bankers were committed to indefinite monetary accommodation. As such,…