Rathbone Funds

Inflation can often seem an abstract concept. Not lately, though: everyone is keenly aware of soaring prices. Is inflation finally starting to drop?

There’s a disconnect between how everyone feels and how stock markets are moving. Meanwhile, the US debt ceiling looms ever larger.

Is America approaching the finish line for interest rate hikes? The team discuss the latest from the other side of the pond, including all the fun of the debt ceiling political football. Meanwhile, are the fears and stresses in the commercial property market signs of an opportunity or a justified warning to stay well away? That leads the team to ponder US insulation and roofing business, Owens Corning, and the tailwinds that should support the company in coming years.

A King is crowned and most of England went to the polls last week. Coming up is a Bank of England rate hike and an update for American inflation.

A regional bank caught up in the March banking crisis has been forcibly sold by an American regulator. Hopefully this marks the end of the chapter.

Investors are fearful of an earnings recession as reporting season steams ahead. Meanwhile, China’s first-quarter GDP estimate suggests its recovery is proving uneven.

Given all the recession chat, Rahab tries to bring some positivity to this episode and challenges Will and David to build a bull case for investing. Following the UK’s Green Day announcements, the team also discuss why it seems net-zero is falling down the priority list, what this means for electric vehicles and why they believe global auto technology company Aptiv could be the winner in this space.

Markets are riven over weighty questions about the economic strength of our households and businesses clashing with higher living costs, and all the while lurks the menace of unknown consequences created by a rapidly changed world.

Money was easy to come by in the 2010s, for businesses, households and governments. With interest rates now much higher, hard decisions loom.

Stocks and bonds ended the month – and first quarter –nearing the top ends of the trading ranges in place since late last year. But there’s still much uncertainty about the inflation and growth outlook, particularly if energy prices start rising again.

Rathbone Unit Trust Management (“Rathbones”) announces that fund manager Noelle Cazalis will leave the business to pursue other interests outside the UK. Fixed Income fund manager Stuart Chilvers will assume lead fund manager responsibilities for the Rathbone High Quality Bond Fund with immediate effect and with no change to the investment process or objective of the fund. 

Strong gains for Europe’s banks last week were reversed by Friday’s close. With the fear bug spreading, can we be confident it won’t strike again?