Overnight: Asia pauses for thought while US markets got their mojo back March 2, 2021 Asian markets appear to be taking a breather this morning, having led the global equity recovery yesterday. US markets found their mojo again overnight, with a day of calm on bond markets greenlighting equities to leap higher on the vaccine recovery optimism that characterised the Asian session earlier in the day. Fed Governor Barkin, speaking [...]
Pound off to a good start ahead of this week’s Budget March 1, 2021 The pound has got off to a positive start ahead of this week’s budget as optimism over the vaccine rollout, which passed the 20m at the weekend, fostered hopes for an economic rebound that is likely to be much faster than its peers in Europe. Moreover, with the UK budget only two days away, mortgage [...]
City A.M. TV: Daily Market Snapshot (video) February 25, 2021 City A.M. TV: Daily Market Snapshot (video)
Business rates from the 16th century are ruining the high-street and an online sales tax isn’t enough February 23, 2021 The pandemic is in many ways not a break from the past but a rapid accelerator, and nowhere has the world sped up as much as in our shopping habits. In the last year, more retail sales shifted onto the internet than had done so in the previous decade. UK consumers spent £24 in every [...]
Boris Johnson’s lockdown roadmap needs short-term hope and yes, takeaway pints February 23, 2021 In two weeks, we will be legally allowed to sit on a park bench with a friend and have a coffee. In five weeks, two whole households will be given the go-ahead to see one another outdoors. Boris Johnson’s plan to exit lockdown seems completely oblivious to what is happening outside his front door. It [...]
Bitcoin’s market cap crosses $1 trillion as ETFs start trading February 22, 2021 A look at what's moving Bitcoin as the market cap crosses $1 trillion and ETFs start trading.
City A.M. TV: Daily Market Snapshot (video) February 19, 2021 Momentum in markets continued to roll over yesterday, with all major US equity indices (and most sectors) closing lower. The ‘false breakout’ theme that we highlighted in yesterday’s video therefore remains intact. Of note in that respect, and as we show in today’s clip, it’s clear that, as well as weaker momentum, the ‘internals’ of [...]
City A.M. TV: Daily Market Snapshot (video) February 18, 2021 Price action in markets has been poor in the past 24 hours. In particular, having broken out to new highs earlier this week, major US equity indices have fallen back into the middle of their recent trading ranges (including both the S&P500 & Nasdaq100). The ‘upside breakout’, therefore, has been false. That raises a key question [...]
Before the Bell: Europe set for mild recovery, US data in focus February 18, 2021 In recent weeks global stock markets have been in rude health as traders have been banking on the Biden administration to approve the proposed $1.9 trillion stimulus scheme. In addition to that, the progress made with respect to the distribution of vaccines has added to the positive move too. On Monday, it was confirmed the [...]
US braces for higher inflation amid pandemic recovery, warns Fed February 17, 2021 The US is trialling ways of bracing the American public for higher inflation rates as a fresh presidency attempts to heal an economy crippled by the ongoing pandemic, according to the Federal Reserve. Minutes released today from a lengthy policy meeting held by the US central bank last month revealed that Fed officials were prepared [...]