Taking a Breather

Jun 20, 2023

6:31 am

• The Fed takes a breather, but ‘promises’ two further rate rises • UK MPC could spring a surprise and raise by 50bps this week • Bank of Japan still waiting for an opportune time to adapt their monetary policy – bad news for the Yen • US equities a reflection of the tech sector…

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The Skipping Fed

Jun 13, 2023

5:11 am

• The Fed is likely to skip this meeting and leave a rate rise for July • Central banks of Australia and Canada both surprise the market with a policy rate rise • ECB expected to raise rates by 25bps with an outside chance of an adjustment of policy in Japan • Japanese equites continued…

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Investment Strategy

Jun 7, 2023

11:35 am

• Debt markets have finally aligned themselves with the Fed’s stance of higher-for-longer rates. • Mega-cap stocks in the US have led the rally but look vulnerable again. • We are neutral on equities, with a slight positive bias, as still-not-cheap valuations offset strong economic and earnings growth. • We remain overweight on Gold as…

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Goldilocks faces off to the Fed Wolf

Jun 6, 2023

6:00 am

• A strong US labour market raises hopes of a soft landing • However, while the market disagrees, we expect the Fed to react by raising rates still further – maybe as early as this month • If a Fed rate increase were to not materialise in June, economically sensitive equity sectors could rally further…

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