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While it has been an interesting week watching the latest political turmoil unfold in both the UK and US, it should be noted that this is just a sideshow as the main driver for markets is still the US/China trade talks (as this impacts global economic growth and corporate profitability).
Oil was of course the main focus at the start of the week after last Sunday’s (15 September 2019) drone attack on Saudi Arabia’s oil facilities which took out half of their oil production (roughly 5.7m barrels a day), which is around 5% of the total daily global supply.
It was another positive week for global equity markets thanks to positive developments on US-China trade relations and monetary policy easing by the European Central Bank.
As summer draws to a close, it was back to work for a lot of people this week, including UK politicians! The political turmoil which followed resulted in a volatile week for Sterling, whilst global equity markets posted modest returns.
After a disappointing end to last week following an escalation in US/China trade tensions, global equity markets rallied strongly this week on hopes that there will be a truce thanks to positive comments from Donald Trump.
Equity markets were dominated yet again this week by the US/China trade spat and speculation on central bank policy.
Whilst the past few weeks have been centred on sentiment overreacting to US President Donald Trump’s proposed September China Tariffs, earlier this week we saw conversations between both US and Chinese trade representatives result in the US delaying the 10% tariff on the majority of key goods until December, with the Chinese easing off on their proposed US agriculture tariffs.
This week has been much like a Sunday, following a ‘big’ Saturday night out… in that not that much has happened other than the hangover from the night before!
In a week that seemed primed to be dominated by central bank meetings and policy, in particular by the US Federal Reserve (Fed), it ended up being hijacked by none other than US President Donald Trump!
UK Media has been dominated by the change in government this week, however, the developments had little bearing on global equity market direction as investors were focused on the ECB’s monetary policy announcement and US economic data.
Christmas is an expensive time of year as the cost of presents, decorations, meals out and entertaining all add up. Individuals intend to spend £567 each at Christmas, with 46% planning to pay for it using credit cards, store cards and overdrafts.
19th November 2019
The FCA has released new data showing the actions that individuals have taken the first time they access a pension pot.
7th November 2019
The FCA’s new rules on pension ‘wake up packs’ - the information that an individual receives from their pension provider before accessing their pension fund, comes into effect on the 1 November.
28th October 2019
You may have seen in the news that one of the UK’s best known Fund Managers, Neil Woodford, has told investors that they can't sell their holdings in his Woodford Equity Income Fund for the time being.
10th June 2019
Today the Chancellor of the Exchequer, Philip Hammond, delivered his Spring Statement.
13th March 2019
A draft Brexit withdrawal deal has finally been agreed between the EU and the UK (or more specifically Theresa May and the ‘collective’ of her Cabinet […]
15th November 2018
