Economic and market insight
Review of the week
Review of the week: The Bramble Bush
With the virus outbreak still in full swing, some Western nations are already mulling a relaxation of lockdown. In the US, that has led to a showdown between the layers of government. These are tough decisions to make, notes our chief investment officer Julian Chillingworth.
6 mins
Review of the week: The Eye of the Storm
Europe’s COVID-19 cases seem to be peaking, the UK has at least another fortnight to go and America’s problems seem to be only beginning. The world is now in a race against the clock, notes our chief investment officer Julian Chillingworth.
7 mins
Review of the week: The cavalry (finally) arrives
The pandemic is spreading rapidly in the US, which is now following the rest of the West into self-isolation. Beware of leverage and expect dividend cuts, warns our chief investment officer Julian Chillingworth.
5 mins
Review of the week: Throwing the kitchen sink
The UK government has unveiled a phenomenal package of support to try to stem layoffs and backstop society. Now people have to lend their support to each other, argues our chief investment officer Julian Chillingworth.
7 mins
Review of the week: The fury of the storm
The pandemic has pounded global markets, spreading fear and upending commerce and people’s lives. Chief investment officer Julian Chillingworth plots a path through the chaos.
8 mins
Review of the week: Markets slip on oil
As Saudi Arabia fires the first shot in an oil price war, our chief investment officer Julian Chillingworth considers the longer-term implications in light of the Covid-19 epidemic. He also looks at the surprising results of Super Tuesday and the narrowing Democratic race for the White House.
5 mins
Review of the week: A long shadow
As markets take a respite from their worst week of selling since the dark days of the Lehman’s collapse, our chief investment officer Julian Chillingworth considers the longer-term implications for investors, and also looks at the narrowing Democratic primary race to take on Donald Trump.
5 mins
Review of the week: Fear spreads too
As economic fears spread along with the widening global outbreak of coronavirus, our chief investment officer Julian Chillingworth considers the implications for investors. He also ponders whether the economy will continue to be a ‘Trump’ card for the US President as November elections approach.
5 mins
Review of the week: No love lost
This year Valentine’s Day was clouded by news of Chancellor Sajid Javid leaving Number 11 and the ongoing spread of coronavirus around the globe. But the markets took it all in their stride, notes chief investment officer Julian Chillingworth.
5 mins
Review of the week: Fisheries and finance
Will the pull of the heart prevail against the mind in Brexit negotiations? Will a nasty outbreak of flu be the start of a beautiful friendship between Trump and Xi? Chief investment officer Julian Chillingworth is dubious.
7 mins
Review of the week: The king of viruses?
An aggressive flu has disrupted the Chinese New Year and put the world on high alert. Chief investment officer Julian Chillingworth thinks it’s a bit early to panic, but that could soon be overtaken by a fast-moving virus.
6 mins
Review of the week: America first
China and the US have signed a one-sided trade deal that has got investors excited about the year ahead. Chief investment officer Julian Chillingworth notes recession concerns have been well and truly supplanted.
6 mins
How technology can improve air quality
When people think about sustainable investing, they often focus on just the narrow topic of how a company itself operates in an environmentally friendly manner. But sustainability is about more than a business’s immediate environmental impact. David Harrison explores the pivotal role tech is playing during the pandemic.
4 mins
Curve goes down, curve goes up
A flattening COVID-19 infection curve is steepening bond yield curves. Head of fixed income Bryn Jones wrestles with the outlook for inflation and the chances of another flare-up of COVID-19.
3 mins
Safety first
The UK is facing a triple crisis: a pandemic, poor leadership and crippling risk aversion that’s spreading throughout everyday life. Multi-asset portfolio funds lead manager David Coombs argues that we are pushing risk into the future.
4 mins
The horror of anomalies
Some companies are starting to let wishful thinking take over their reporting. Head of fixed income Bryn Jones takes a dim view of EBITDAC.
3 mins
Lego Man helps himself
After one month of lockdown, multi-asset investment specialist Craig Brown’s hair was unkempt. After two months, it was totally out of control. It’s time for self-help.
4 mins
Have a little faith
Bad news is feeding many pessimists at the moment. Head of fixed income Bryn Jones sees a different, more optimistic, picture – and he’s investing in it.
3 mins
Maradona monetary policy is over
Lack of live football has our head of fixed income, Bryn Jones, looking back over past classics. That got him thinking about an old theory of monetary policy that may now be outmoded.
4 mins
Responsible recession
With the world in lockdown and experiencing the worst recession in living memory Matt Crossman, our stewardship director, ponders whether the recent trend toward ESG was a luxury afforded by the longest bull market in living memory.
3 mins
Fallen angels
‘Fallen angels’ of the bond world are getting a better reception than the disgraced seraphim in Paradise Lost. Pondering the power of the Fed, our head of fixed income Bryn Jones is reminded of John Milton’s epic poem.
4 mins
Sofa, self-isolation and … S&P 500 put options
Instead of reclining poolside on a June holiday abroad, our multi-asset investment specialist Craig Brown is resigned to a staycation. But there will no doubt be plenty of work to keep him and the multi-asset team very busy this year.
4 mins
A dog’s not just for lockdown
Credit markets have been a crazy place for the past couple of months. But our head of fixed income, Bryn Jones, has got a new friend to keep him (halfway) sane.
3 mins
Uncharted territory
During times of crisis, the way companies respond can have a major impact on society as a whole, not just their balance sheets. Rathbone Global Sustainability Fund manager David Harrison discusses why he believes companies with strong sustainability principles have a greater potential to weather the pandemic.
3 mins