Newsletters
Quarterly Newsletter - Spring 2014
After last year’s see-saw stock market performance – better than expected results for the developed economies, but worse for emerging markets and commodities, in particular gold – stock markets have proved rather lacklustre in the first quarter of 2014.In a nutshell: indices like the Dow Jones, S&P 500, FTSE 100 and Eurostoxx 50 have scarcely moved more than a couple of percentage points in ei...read more
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Quarterly Newsletter - Winter 2013
If market indices are deemed to be reliable indicators, then 2013 was a very positive period with America’s S&P 500 Index breaching several all-time highs and finishing some 29% ahead for the year. Even in the UK, where early in the year we were worrying about a “triple dip” recession, the FTSE-100 Index managed a gain of 14%.The general tone on news flow through the year would hardly seem to ...read more
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Quarterly Newsletter - Autumn 2013
It is rare for our Newsletters to be written when the economic and political scenes do not offer compelling issues on which to hang the narrative. The Eurozone crisis, the fortunes of the Chinese economy or the seemingly endless political turmoil in the Middle East have all provided material aplenty in recent issues. On this occasion, the elephant in the room or, more correctly, the elephant and d...read more
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Quarterly Newsletter - Summer 2013
At long last we are witnessing growing confidence suggesting that the worst might be over!The American economy still is the power plant that drives global growth, and the signs are now much more positive and point to a sustainable recovery. Consumer spending, so important for the US economy, has seen a very welcome resurgence. With personal debt back to more normal levels, the Americans this year ...read more
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