Getting into a fix: using bond markets to enhance income

One common investment theme since late 2008 has been the question of how to get a meaningful return on your cash without taking any undue credit risk. Before 2008, bank cash deposits fulfilled this role by offering good absolute levels of return with limited perceived […]

equity valuations

Equity valuations – what could be coming up in 2017?

 The past year has been a rocky one for the stock market. After a disastrous start to the year and a series of doomsday forecasts ahead of Brexit and the US presidential election, equity markets held up surprisingly well considering the surprising results of both […]

Does it make sense to hold on to ‘bond proxies’?

Until very recently, bond markets have experienced a bull run for the last 35 years. Interest rates are at all-time lows and investors have crowded into equities. But one group of equities in particular has stood out – ‘bond proxies’. ‘Bond proxy’ describes equities, such […]

Monetary policy is dead; long live fiscal policy in 2017

Over the course of the next year we believe that governments will take increasing responsibility for boosting economic activity – and fiscal policy in 2017 will become more important than the unorthodox monetary policies introduced by central banks since the financial crisis So why the […]

European political risk

European political risk in 2017 and the rise of populism

The past 12 months have seen three massive political upsets. In June, UK voters opted to leave the European Union, prompting the resignation of Prime Minister David Cameron. Next, November saw Donald Trump emerge the surprise victor in the US presidential election. The trifecta was […]

We’re going on a bear (well, bond bear market) hunt

After Donald Trump’s election victory, investors are rightly concerned that a bond bear market may now be underway, with government bond prices falling and yields rising as a result. You can find hidden meaning in virtually anything. 20 years ago, the ‘Bible code’ was in vogue […]

China’s economic outlook in the year of the rooster

As we look ahead to 2017 and consider those factors that will influence our investment strategy and decisions, China will continue to have a significant impact. It’s sheer size, scale and development affects the world’s markets and economies – as well as influencing some of […]

A look back at 2016 – a walk on the wild side

From the surprises of 2016 to the challenges of 2017 Whatever challenges we face in 2017, 2016 has provided a useful education in how to deal with surprises and market volatility. We certainly weren’t expecting the weakness we suffered at the beginning of 2016 when […]