Economic and market insight
Review of the week
Review of the week: Downcast, but out (spending)
The UK slumps into recession even as people’s spirits and retail sales rise. Meanwhile, trouble may be brewing in American inflation.
5 mins
Review of the week: American stocks pop
The US S&P 500 stock market index broke through 5,000 for the first time, hitting a record high last week as investors shrugged off worries that interest rates may not fall as fast as many had hoped.
6 mins
Review of the week: Don’t tread on me
US jobs strength pushes back interest rate cut forecasts yet further. Meanwhile, higher rates and changing business needs keeps squeezing commercial property.
8 mins
Review of the week: The oracle of Threadneedle Street
No change to monetary policy is expected this week, but investors will be eager for any clue about the Bank of England’s thoughts on inflation and interest rate cuts.
6 mins
Review of the week: Shoppers on strike?
UK retail sales slumped in December while inflation went in the other direction. Is the UK now in recession, albeit the mildest of the mild?
6 mins
Review of the week: Gimme shelter
Housing costs make up a big part of people’s spending, yet they can often obscure what’s going on with inflation.
7 mins
Review of the week: An old-fashioned Santa rally
A gruelling year for investors actually delivered decent returns. But how much of that strong performance is in anticipation of 2024?
6 mins
Review of the week: Rolling Returns
A Santa rally is in full swing for stocks and bonds, capping off a year of large swells for investors. While returns flow, climate policy is ebbing at COP28 in Dubai.
8 mins
Review of the week: Why not deflation?
A bout of runaway inflation could persuade some people that no inflation would be better than any at all. That’s a dangerous path to take.
7 mins
Review of the week: Happiness is Relative
After a miserable year for living standards, Brits are feeling much better about their lives and their futures. But how much will that move the dial for retail spending and economic growth?
6 mins
Review of the week: Which path are we on?
Updates on inflation and unemployment arrive this week. Will they give investors more clarity about the paths of interest rates?
5 mins
Review of the week: Up like a balloon
Central bankers have sat on their hands for another month, sending the prices of stocks and bonds soaring. While interest rates seem to have peaked, the full effects of previous increases are yet to be felt by households and businesses.
6 mins
Cult classic
Scaredy-cat David Coombs, our head of multi-asset investments, explains why assets with overly reverent devotees give him the creeps.
4 mins
Good COP, bad COP?
The eyes of the world will be watching the COP26 global climate summit next week. Our stewardship director Matt Crossman asks: what will make it a good COP? And how will we know if it’s a bad one?
2 mins
Demanding supply chains
Reopening economies have strained global networks of distribution and upended labour markets. Silver linings though: it’s saved our head of multi-asset investments David Coombs £85.
3 mins
Green eating
Environmental impacts, health awareness and growing intolerances are rapidly changing people’s appetites. Our head of multi-asset investments, David Coombs, has been gluten-free since before the kids started doing it, so he believes he has some wisdom to share.
5 mins
Fuelish
The petrol crunch has caught out Will McIntosh-Whyte, our multi-asset portfolios fund manager, much to the glee of his electric car owning stepfather.
4 mins
That old-time service
Hours-long queues for petrol focuses the mind on the importance of businesses that have been dismissed as ‘old-economy’. Rathbone Income Fund co-manager Carl Stick explains why he’s been adding to a few of them this year.
5 mins
Stretching subscriptions
Subscription-driven cash flows have been the gold standard for many industries for decades now. Senior multi-asset investment specialist Craig Brown takes pause at coffee-as-a-service.
4 mins
Spicy stocks and birthday treats
Punchy valuations for high-growth stocks are at risk of getting upended by any rise in bond yields. Our head of multi-asset investments, David Coombs, explains why he’s building up his cash.
4 mins
China’s challenging consumer
Only comedians can insult their customers, notes head of multi-asset investments David Coombs. If change needs to come, stewards usually get better results.
5 mins
Lego, bricks & mortar
Kids’ building blocks and workplaces both offer a chance to learn. Senior multi-asset investment specialist Craig Brown makes a case for the office while tripping over his son’s toys.
4 mins
Is China going local?
In case anyone forgot that China was supposed to be communist, the world’s largest market dropped a hammer on its technology and education sectors. David Coombs, our head of multi-asset investments, reviews his Chinese exposure.
5 mins
Minority sports?
Head of fixed income Bryn Jones explains why the Olympics gives him a taste for minority sports and what it takes to win a wider fan base.
3 mins