Monthly market commentary

After a busy start to the year there’s still a lot of uncertainty swirling around in markets. But economies tend to bounce back hard after sombre periods, and hope remains that our eventual return to ‘normal’ will be no different.

23 February 2021
sunset visible through hedge

A roller-coaster of a year finished on a high note for the markets, and we start 2021 with a sense of relief that one of the most difficult years many of us have ever experienced is behind us.

20 January 2021

With a clutch of vaccines on the way soon, equity markets were in a buoyant mood in November. But there are still a lot of things we don’t know – and even some things we don’t know that we don’t know…

07 December 2020

Equities fell in October as investors came to terms with tighter lockdown restrictions, but hopes for a new round of US stimulus under President-elect Joe Biden have buoyed markets, and Chief investment officer Julian Chillingworth reckons we should take heart.

13 November 2020

With summer fading into memory, a long uncertain winter of social distancing lies ahead. It’s easy to feel gloomy, but as chief investment officer Julian Chillingworth argues, we should try not to buy into the doom.

09 October 2020

As summer winds down and the pandemic persists, governments are finding it hard to taper their support measures.

15 September 2020

The hard data is coming in and so far companies have fared better through the pandemic than expected. Just how long complete recovery will take no one knows, but as chief economist Julian Chillingworth notes, we maintain our long-held belief in the human capacity to co-operate and solve problems.  

13 August 2020

With the groundwork laid for a rapid recovery, equity markets reflected continued optimism in June. But as chief investment officer Julian Chillingworth notes, significant risks remain.

15 July 2020

Economic statistics fell off a cliff in May, but as chief investment officer Julian Chillingworth notes, investors were already anticipating a big bounce as economies began to reopen.

22 June 2020

Amid an alphabet soup of economic forecasts, chief investment officer Julian Chillingworth looks for the ingredients of a lasting recovery. 

20 May 2020