Opinion – Wednesday 9 July 2014

They are expensive! ….. This has been the mantra across all financial asset classes for months. However, periodically, markets get super worried and take profits and, in the process, they ignore any of the underlying macro data or evidence that the liquidity rug...

Opinion – Tuesday 8 July 2014

Yesterday, stocks retreated from the record highs achieved last week as speculation mounts that the Fed will raise interest rates sooner than expected. The mood of the markets was not helped by a Goldman Sachs Report which said that rates will rise in the third...

Opinion – Monday 7 July 2014

Markets predictably went out quietly on Friday given the US Independence Day Holiday and in the wake of Thursday’s US Payrolls-inspired fireworks. European Markets closed mostly lower whilst Euro-Zone Bond Yields also closed lower with France and Germany both...

Opinion – Friday 4 July 2014

We have been waiting for consistently good US data and now we are getting it. The US Dollar was modestly enthusiastic about it, Bond yields less so but the fact is that the US labour market is improving. What more do the markets and the Fed need to see? US...

Opinion – Thursday 3 July 2014

Some US Dollar strength and higher Treasury Yields were the key themes yesterday with markets, for a change, paying attention to the stronger US data. The US Dollar rallied after the release of the US ADP Employment Report. It surprised to the upside with a 281k rise...

Opinion – Wednesday 2 July 2014

Yesterday was a buoyant start to the second half of the year with the tone in the markets particularly positive. This was not necessarily due to big macro outcomes, perhaps it was just the absence of bad news, but it was a generalised theme. Equity markets were...