Weak headline UK data support gilt prices once again but I remain reluctant to invest my own cash, never mind my clients', in this market.
Of course, all needs taken in context. UK CPI at the headline level (which, one must remember, is the Monetary Policy Committee [MPC] target) remained high in June, printing at 2.4%. It was similar...
Bond investors spent most of last year transitioning towards a more fundamentally driven approach to selecting assets.
There is something strange going on in Europe according to some commentators - the market has rallied aggressively post the trade war-induced sell-off in the fourth quarter of 2018.
We expect to see continued market volatility and macroeconomic uncertainty in the UK throughout 2019, not least due to Brexit.
US stocks had a turbulent last quarter in 2018 and have been somewhat volatile since the start of this year.
While we are stock-pickers, we do not ignore the business cycle; analysing it helps us determine when to allocate capital to certain companies.