What does the year of the pig hold for stocks? History has some clues February 8, 2019 Chinese stock markets are currently on holiday, with traders and consumers off celebrating the arrival of the Year of the Pig. But maybe equity markets across the world have something to celebrate, given the past performance of stocks during previous porcine-themed years. Statistically speaking, the Year of the Pig is a good one for stocks. [...]
Three themes for 2019 – and some black swans February 8, 2019 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
Corbyn allies join protest at Bank of England demanding transfer of gold to Maduro regime February 7, 2019 Two of Labour leader Jeremy Corbyn's most prominent allies joined a protest outside the Bank of England today, demanding that it release over £1bn worth of gold to the regime of Venezuela’s socialist strongman Nicolas Maduro. Members of Maduro's regime have laid claim to the country's gold reserves held at the Bank. Former Mayor of [...]
Sterling endures rollercoaster afternoon as Bank of England slashes growth forecasts but Brussels talks offer Brexit hope February 7, 2019 Sterling has endured a rollercoaster ride this afternoon after the Bank of England slashed growth forecasts but a glimmer of hope emerged for Theresa May’s Brexit deal in Brussels. The Bank cut its UK growth forecasts to 1.2 per cent in 2019 – from a previous 1.7 per cent projection – citing mounting Brexit uncertainty [...]
Brexit latest: Juncker refuses to reopen Brexit negotiations in ‘robust’ talks with May February 7, 2019 Brexit cannot be renegotiated, insisted European Commission president Jean-Claude Juncker today at a meeting with the Prime Minister described as “robust but constructive”. However, UK and EU negotiators will continue to search for a path through parliament for Theresa May’s Brexit deal as they seek to save the agreement, the leaders said today. Read more: [...]
Bank of England slashes UK growth forecasts amid Brexit uncertainties and global slowdown February 7, 2019 The Bank of England today decided to leave interest rates unchanged as expected, but slashed UK growth forecasts as Brexit uncertainties mount. The bank's monetary policy committee (MPC), which last raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates for a fourth consecutive meeting. Read more: How will the [...]
RBS shareholders approve scheme to buy shares back from government February 6, 2019 Royal Bank of Scotland shareholders have agreed to a plan that allows it to buy up to £1.5bn worth of shares from the government, hours after Labour said it would halt such a move if it came to power. At a general meeting, 98.7 per cent of investors backed the proposal designed to speed up [...]
City A.M.’s shadow monetary policy committee votes to hold interest rates amid peak Brexit uncertainty and global slowdown February 6, 2019 The Bank of England must hold interest rates when its monetary policy committee meets tomorrow amid peak Brexit uncertainty and a global economic slowdown, City economists have warned. The Bank’s rate-setting monetary policy committee (MPC) will announce its decision at midday but is expected to leave rates unchanged at 0.75 per cent. Read more: Household [...]
Charity Commission issues official warning to IEA over legal breaches in Brexit report February 5, 2019 The charities regulator has issued an official warning to the Institute of Economic Affairs (IEA) for breaking charity law in a report about Brexit. The Charity Commission today censured the Westminster think tank for a report into the post-Brexit economy in the UK, which was published in September but has since been taken down. Read [...]
What is the outlook for interest rates in 2019? February 5, 2019 US Concern over the outlook for US interest rates was one of the dominant themes of 2018, especially as the year progressed. President Trump got involved in the debate, tweeting in December that it was “incredible” that the US Federal Reserve (Fed) was considering raising interest rates again. Despite the pressure from the president, the [...]