30 years This week, the 30th anniversary of two formidable storms in October 1987 reminded us that extreme weather and capital market events are not something that only started after the year 2000. While most long-term return charts nowadays show the 1987 stock market crash only as a tiny blip, the application of a base-effect… Read more »

All-time highs and Q3 results outlook: Reasons to be fearful or optimistic? While the general public struggled with lack of political progress around the world, most western stock markets reached new highs. Fitting that this happened as we passed the 10th anniversary of the pre-GFC (global financial crisis) stock market highs. Central banks’ monetary policy:… Read more »

Bad news – good news Did I state last week that September had been a good month for stock markets? Well, looking at the above table, one must assume I made a mistake. Let me set the record straight: It was a good month in global equity markets, just not from a £-Sterling perspective. As… Read more »

Movement It has been a week full of political movements and stock markets managed to regain ground lost over the previous week. Deutschland 1 – Rest of the World 1 (German win on penalties?) Both brexiteers and remainers agree that the UK’s exit from the EU will have a big economic impact. So, mitigating the… Read more »

QT to reverse QE and 2-year transition period to soften Brexit There had been substantial anxiety in capital markets community about the day the US central bank would announce the reversal of its monetary policy of quantitative easing (QE) towards quantitative tightening (QT). Well, the day came and went, and it has still been a… Read more »