My predictions for 2014 for the economy, markets and politics January 6, 2014 HAPPY New Year, dear readers, and welcome to our first edition of 2014. As ever, we devote a sizeable chunk of this issue to trying, as best as we can, to predict some of the big economic, political, market, financial and corporate events of the year ahead. We do so with humility: as Mark Twain [...]
Letters to the Editor – 06/01 – Gold speculation, Payday lending, Best of Twitter January 5, 2014 Gold speculation [Re: Here’s why Capital Economics thinks gold will bounce back this year, Thursday] Buying gold at current prices is speculation, and not just over the potential removal of Indian import restrictions. Its price tells you about fear in an economy at any given point – and there just isn’t that fear around that [...]
UK mortgage approvals hit six-year high January 3, 2014 Data released by the Bank of England show that the number of mortgages approved in November rose to 70,758 – the largest number in almost six years, although still far lower than figures pre-recession. Expectations were for 69,000, and the number of approvals beat October's 67,701, providing more evidence of a rapidly growing housing market. [...]
UK mortgage approvals at highest in six years January 3, 2014 Data released by the Bank of England show that the number of mortgages approved in November rose to 70,758 – the largest number in almost six years, although still far lower than figures pre-recession. Expectations were for 69,000, and the number of approvals beat October's 67,701, providing more evidence of a rapidly growing housing market. [...]
Next raises annual profit forecasts on bumper festive sales January 3, 2014 Strong Christmas sales have seen retailer Next up its full year profit forecast range, along with announcing a special dividend. The festive period saw sales "significantly ahead of expectations", said the UK fashion chain. Sales from 1 November to 24 December increased 11.9 per cent, and five per cent from a year earlier. Next Retail [...]
Next raises annual profit forecasts on bumper festive sales January 3, 2014 Strong Christmas sales have seen retailer Next up its full year profit forecast range, along with announcing a special dividend. The festive period saw sales "significantly ahead of expectations", said the UK fashion chain. Sales from 1 November to 24 December increased 11.9 per cent, and five per cent from a year earlier. Next Retail [...]
What you need to know before the open – 19/12 December 19, 2013 So the Fed is going to start tapering its $85bn asset purchase programme. From January, it'll buy $75bn of mortgage and Treasury bonds each month – a modest cut, but one that caught markets off-guard last night, with many calling it wrong. Equity markets saw an immediate sharp sell-off, although that quickly reversed on the [...]
Fed shocks stocks into taper rally December 18, 2013 THE US Federal Reserve shocked markets last night by announcing a tapering of its enormous monthly stimulus programme – yet stocks jumped thanks to the modest size of the cut and a notably dovish accompanying statement. From January, the Fed will purchase $75bn of mortgage and Treasury bonds each month, down from the current rate [...]
What you need to know before the open – 18/12 December 18, 2013 Today is the day the Fed's Open Market Committee makes a decision on whether to trim back its quantitative easing programme. The tapering debate has rattled on for almost eight months now, with uncertainty persistently subduing the markets. Robust economic data has left many questioning the likelihood of a December (as opposed to a March [...]
Mortgage debt leans on south east of England December 17, 2013 LONDON and the south east of England make up nearly half of Great Britain’s outstanding property loans, as new figures show how the region dominates the mortgage market. London and the south east have £388.7bn of outstanding mortgage debt, 43 per cent of Britain’s £891.4bn total lending. The capital alone holds £227.3bn, more than a [...]