Rishi Sunak announces windfall tax

The noise The Federal Reserve has upwardly revised the forecast for its preferred inflation gauge, the PCI to 4.3% this year with predictions that it will decelerate to 2.5% next year. Members of the policy committee aren’t unduly worried about economic growth and expect it to “advance at a solid pace over the remainder of…Read More

Real Assets – A refuge in an uncertain world

We’re only just over halfway through H1 2022 but already investors have had to face a plethora of challenges – problems in global supply chains that just won’t go away even though the pandemic is now more than two years old, uncertainty about the timing and magnitude of interest rate rises, the return of an…Read More

US TECH STOCKS: IS IT TIME TO BUY?

Since peaking in November last year, the Nasdaq Composite Index – a proxy for the US technology sector – has declined by 17%. While valuations at the high point of the index were stretched and posed a clear risk to investors, they are now heading towards more palatable levels. Although we don’t yet see the…Read More

Shoppers set to spend £9.2 billion in 4 days

This was a quiet week with US markets closed on Thursday for Thanksgiving. However, news broke overnight about a new Covid-19 variant. This led to a sell-off in markets as investors consider the potential new travel restrictions and lockdowns. This is a reminder that life will take time to get back to normal and indeed that normal may have evolved.

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The great crypto debate

This weeks US inflation report once more beat expectations as reported inflation in the US continued to rise, now sitting at 5.4% year over year. Recent weeks have seen the debate over transitory vs persistent inflation being resolved, with major company’s such as Bank of America’s CEO stating “Inflation is clearly not temporary”.

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Death and Taxes

After weeks of strength, markets have taken a pause to contemplate this week as investors weigh Biden’s proposal for higher taxes on the wealthy to fund his new social plan. With equity sentiment somewhat
stretched, it doesn’t take much for markets to consolidate and the stall this week is perhaps overdue after weeks of relentless drives upwards.

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A statement on Sanlam Wealth

South Africa’s largest insurer Sanlam Ltd has sold its UK wealth division (Sanlam Wealth) to funds managed by Oaktree Capital Management, L.P. (“Oaktree”), for a total consideration of £140 million. The transaction is subject to customary regulatory approval and is expected to close in the first quarter of 2022.

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Price Panic

Confidence that has permeated markets for weeks appeared to lose momentum this week as nonfarm payrolls and inflation figures caused the charging bull to take a moment to catch its breath. Nonfarm payrolls (a measure of US employment) fell far short of expectations whilst inflation printed its highest month-on-month gain since 2008.

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