A survey last year confirmed the chocolate digestive as the UK’s favourite biscuit. So, last week’s news that a fall in the price of chocolate biscuits had contributed to UK inflation hitting its lowest level in two-and-a-half years would have been welcomed by many. Yet the March fall in inflation to an annual 3.2%, down from 3.4% in February, was less than expected. Core CPI inflation – which excludes food and energy – was also higher than forecast. The figures were a reminder that the fight against inflation was not yet won and added to signs that a first interest rate cut by the Bank of England (BoE) could be further off than markets had expected. Investors trimmed their bets, fully pricing in only one quarter-point cut by the end of this year, possibly as late as November. #wealthmanagement #financialmarkets #financialmanagement
Myles Churchill DipPFS’ Post
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If the market values of the big-tech Magnificent Seven were combined, it would create the second-largest stock exchange in the world. In a relatively quiet week for economic data, it was therefore little wonder that investors’ attention was focused on earnings announcements from the bellwether US companies, in a welcome return to market fundamentals rather than geopolitics. #wealthmanagement #fundmanagement #financialmarkets
WeekWatch
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Jeremy Hunt declared the UK economy was finally ‘turning a corner’ late last week, after the Office for National Statistics (ONS) revealed the economy grew by 0.1% in February. The ONS also revised up its January growth figures from 0.2% to 0.3%. Together, these figures suggest the UK will end the first quarter reporting some economic growth, meaning the UK is likely out of recession. #wealthmanagement #financialmarkets #financialplanning
WeekWatch - 15/04/2024
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Buy land, they’re not making it anymore,” said Mark Twain. In fact, land was about the only thing investors weren’t buying in the first quarter of 2024, as stocks, gold and cryptocurrencies all surged to record highs. That exuberance has been founded on the belief that the global interest-rate cycle is turning. The coming quarter will prove whether that confidence is justified. Last week provided some more clues. #wealthmanagement #financialmarkets #financialgoals
WeekWatch - 08/04/2024
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The Japanese revere the country’s spectacular cherry blossom season as a symbol of new beginnings. In ending eight years of negative interest rates, the Bank of Japan (BoJ) is hoping its decision heralds a new era for the country’s stagnating economy. Investors had to navigate a minefield of central bank meetings last week. On Tuesday, the BoJ was the first of no fewer than 11 to announce their latest interest rate decisions. In a widely expected move, it increased interest rates from -0.1% to a range of 0%-0.1%; the first time in 17 years that the cost of borrowing has been raised.
WeekWatch - 25/03/2024
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A small increase in US inflation last week hurt American markets, although there was better news in Europe. Starting with the US, CPI Inflation in February was 3.2%, compared to 3.1% in January. ‘Core’ inflation – which doesn’t include food and energy prices – did fall slightly (from 3.9% to 3.8%) but was higher than had been forecast. #fundmanagement #wealthmanagement #financialmarkets #financialmanagement
WeekWatch - 18/03/2024
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In its current form, the Chinese pension system is predicted to run out of money by 2035. The country’s population dropped by three million last year. China’s demographic timebomb of a shrinking and ageing population, driven by its past policies – including the one-child policy – and a growing reluctance among young adults to have children, threatens its economic revolution and the switch to a consumer-led growth model. #wealthmanagement #financegoals #financialmarkets #fundmanagement
WeekWatch 11/03/2024
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Positive news helped US and Japanese stocks finish February on a high, while much of Europe played the waiting game last week. This was especially true in the UK, where the Government is due to announce its Budget on the coming Wednesday. With an election due later this year, and the Conservatives currently polling poorly, UK Chancellor Jeremy Hunt is widely expected to make some headline tax cuts to boost support. #wealthmanagement #fundmanagement #finance #financialmarkets
WeekWatch - 04/03/2024
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After the 1929 Crash and Great Depression, it took Wall Street 25 years to recoup its losses. Last week, Japan’s Nikkei 225 Index broke that record as it finally surpassed its 1989 high. In the intervening 34 years, Japan has struggled with deflation and little to no economic growth. It’s certainly not out of the woods yet – the economy unexpectedly slipped into recession at the end of 2023 – but corporate governance improvements and booming earnings, boosted by the weakness of the yen, encouraged foreign investors to pour $42 billion into the equity market last year. #financialmarkets #wealthmanagement #wealthmanager #funds
WeekWatch - 26/02/2024
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It’s often said that economic figures and stock market performance don’t always line up. Last week, the UK provided a good example of this. Newly released figures revealed that the economy shrank by 0.3% between October and December 2023. This followed a smaller contraction in the previous quarter, meaning the UK has entered a recession. Despite this, the FTSE 100 rose over the week. #wealthmanagement #financialplanning #financegoals #financialmarkets
WeekWatch - 19/02/2024
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