US markets make new records just in time for Independence Day. While Americans take a day off, it seems a good time to take a look at a tough corner of the UK labour market.
Tougher times may lie ahead, but we believe the cyclical rally has further to run.
Stock markets have regained their positive momentum, but don’t expect a balmy and tranquil summer ahead.
The US central bank’s nod to the surging American recovery frightened markets last week. These wobbly moments could become a longer-term fixture of the global recovery.
Jobs are the key to true recovery and the best clue to the path of longer-term inflation. Meanwhile, the great vaccination rolls on.
After an austere run for many years, the mood music for global companies seems to have stepped up a beat. Businesses are splashing the cash and investing for a new future.
Breaking the inertia of old habits can be revitalising. Brits are up for a change and that could spark a regional economic revival.
Inflation concerns aren’t receding despite policymakers’ best efforts. Expect more inflation scares to trigger further stock and bond market volatility.
Inflation is all investors can think about right now, causing stock markets to wobble a bit. More focus should be on the steady march to recovery. There’s fun to be had.