Bill McQuaker: Global picture continues to get murkier

US outlook appears slightly pessimistic as fears over trade wars resurface We are now well into the second quarter of this year and the profound risk-on move that looked so well established has been stopped in its tracks by renewed trade tensions. Risk assets have benefited over the year to date from market optimism, resulting […]

Richard Buxton: Yet deeper into the looking glass

It is clear that 10 years on from the global financial crisis, we are a long way from back to normal A year ago, the US economy was on a tear, boosted by the sugar rush of Donald Trump’s tax cuts. China, on the other hand, was already slowing materially in response to the authorities’ […]


Why the global growth story is not over yet

Dramatic price elasticity is defining a new era of heightened volatility. As spectacular as the fall in markets was late last year, so was the rebound in January. This whipsawing of markets can be very uncomfortable for investors, but for dynamic multi-asset managers it presents allocation opportunities, particularly as gloomy macroeconomic conditions weigh on sentiment. […]


Why the US will avoid a recession this year and next (just)

Last night saw the US president’s State of the Union speech which addressed to a joint session of the Congress. During the 90 minute speech, he said he launched an “unprecedented economic boom” – despite taking office amid said booming economy. AXA IM’s David Page assesses the current state of the US economy. US recession […]

Trevor Greetham: US recession fears are premature

Global growth is slowing but America remains strong Volatility returned with a vengeance in 2018 after an unusually quiet 2017. Wall Street suffered its worst December since the Great Depression, leaving global stockmarkets lower for the year in sterling terms for the first time since 2011. UK property was a relatively bright spot, however, and […]

John Chatfeild-Roberts: Why markets left 2018 with a whimper

Few investments saw high returns last year Markets last year were akin to a boxing match, with investors strutting into the ring in January 2018 full of beans and swagger, but ending it on the canvas, down but not knocked out. It was a bruising year, especially for equities globally, and despite a short-lived post-Boxing […]

Bill McQuaker: Tech investment story has only just begun

For more than 25 years, investors have been faced with the ups and downs of the technology sector, and 2018 was no exception. Of course, the “dot-com” boom and subsequent bust in the late 90s and early 2000s, best characterised by the now popular “irrational exuberance” phrase coined by former Federal Reserve chairman Alan Greenspan, […]