By Greg Smith on Monday, April 27th, 2020
in Blog, Market InsightsGBP – Boris back in Downing St The markets last week were relatively unfazed by the deluge of depressing economic data releases. This included a plunge in UK services PMI to a record low of only 12.3. Global equity markets were only slightly lower on the week though 10-year gilt yields fell below 0.3%. Sterling […]
By Greg Smith on Monday, April 20th, 2020
in Blog, Market InsightsGBP – Lockdown into May There are growing signs across a number of countries that the pace of increase of Coronavirus infections is slowing. There is speculation that lockdown restrictions will soon be eased in some countries. The UK government, however, has confirmed that the current restrictions will continue until at least 7th May. Sterling […]
By Greg Smith on Tuesday, April 14th, 2020
in Blog, Market InsightsGBP – Lockdown to be extended Markets are watching optimistically for further evidence of a peak in cases and deaths from coronavirus. Global equity markets improved again last week. UK 10-year gilt yields have increased, suggesting that markets expect rates to increase from their record low. Brent crude oil was back above $30 a barrel […]
By Greg Smith on Monday, April 6th, 2020
in Blog, Market InsightsGBP – House prices and PM Johnson watched The number of confirmed Covid-19 cases is above 1.25 million, with the death toll now close to 70,000. Italy, Germany and the US have extended their lockdowns. The number of cases and deaths continues to accelerate in many countries, including the US. The WHO has pointed to […]
By Greg Smith on Monday, March 30th, 2020
in Blog, Market InsightsGBP – Markets recover, PMIs continue fall Following the massive global policy stimulus over the last week, markets have recovered. Equities are still 20% lower this year and it remains to be seen if the recovery will continue. Global March PMIs fell sharply with UK services dropping to 36. The final readings of these PMIs […]
By Greg Smith on Monday, March 23rd, 2020
in Blog, Market InsightsGBP – Emergency measures from Treasury and BoE Until recently there has been little data to assess the economic impact of the coronavirus crisis. February data for China showed the extent of the impact with big falls in PMI data and exports, imports, industrial production and retail sales. This week, we will see the UK’s […]
By Greg Smith on Monday, March 16th, 2020
in Blog, Market InsightsGBP – Further response to Coronavirus This week, the focus remains on fiscal and monetary responses to the coronavirus crisis. Global equity markets plunged last week, while bond yields rose as investors sought the safety of cash. The BoE cut Bank Rate to 0.25% and introduced measures to support liquidity to the wider economy whilst […]
By Greg Smith on Monday, March 9th, 2020
in Blog, Market InsightsGBP – Tricky budget for Sunak The rebound in risk appetite rebound proved short-lived, as coronavirus concerns have continued to increase. The US Federal Reserve made an emergency 50bp rate cut. The markets now expect the Bank of England and the ECB to follow. Thus far, there is no coordinated global response despite worries about […]
By Greg Smith on Monday, March 2nd, 2020
in Blog, Market InsightsGBP – Coronavirus fears increase It has been a rough week for global equity markets with coronavirus fears continuing to rise. The reported cases are well above 80,000. Italy has the largest number of cases in Europe, while the UK total has been increasing. There is no consensus on when the outbreak is likely to […]
By Greg Smith on Monday, February 24th, 2020
in Blog, Market InsightsGBP – Parliament returns, coronavirus concerns Parliament returns to a busy agenda on Monday. One priority will be discussion of the immigration proposals. It was revealed as a points-based system for both the EU and the rest of the world. Meanwhile, it has been confirmed that the UK budget will go ahead on 11th March. […]
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