Feature

The endeavour of projecting today's conditions, trends and relationships into the future inevitably results in errors of judgement - and economists continue to get caught out by the ever-changing market environment (often at the worst possible times)....

Wall Street is not Main Street. In Wall Street's eyes, America is the S&P 500, but from Main Street, America looks very different, especially in its relative exposure to events overseas.

The first eight months of 2015 have been relatively weak for the global high yield market. Much of this weakness has stemmed from the US, where exposure to lower commodity prices has put pressure on issuers, in particular those in the basic materials...

Market expectations benign, says Wharrier

In tandem with global equities, the UK market has declined 16% from its April peaks. Volatility has spiked and confidence has collapsed.

Economic data in Europe is improving steadily, an expansionary monetary policy is in place and company earnings are set to pick up.

The papers called Beijing's surprise devaluation an "escalation of currency wars", with some stating the move was "best seen as a distress signal from Beijing".

Equity market contagion is a familiar but often irrational phenomenon, which can be driven more by ill-defined fears than by sober analysis.

Amid the rise of unconstrained fixed income funds and index strategies, it is easy to forget benchmark-relative, active fixed income mutual funds remain popular with investors - and with good reason.

UK growth focus UK property prices, particularly in London, are back above their 2007 highs. This is important as it is primarily homeowners who drive the UK economy - over 50s own around 75% of the country's wealth.