Strategic Insights | Investing for Positive Change     The state of the world One of the themes to which we return on a regular basis in our Strategic Insights is – quite simply – the state of the world in which we live. It is quite possible that this period at the start of […]

Global Markets to 8th November 2020   Highlights The Democrats win the election and Joe Biden readies himself to become the 46th president of the US. Kamala Harris will become the first female vice president and the first black South Asian to hold the title. The Democrats may have won the White House, but the […]

Global Markets to 11th October 2020   Highlights President Trump is declared Covid-free as the election draws nearer. The World Health Organisation reports a record one-day increase in global cases. In China, huge tourism revenue and optimistic news on the Covid front benefit both the currency and the stock market. It’s the final quarter of […]

Global Markets to 27th September 2020   Highlights Increasing Covid numbers, lingering uncertainties regarding a new fiscal stimulus bill and ongoing Brexit negotiations affect market sentiment The Chancellor announces a new wage subsidy as the current furlough scheme ends Governments and central banks remain accommodative Higher fiscal spending should provide investors with attractive investment opportunities […]

Global Markets to 13th September 2020   Highlights Last week’s pullback in technology stocks was inevitable after such an extraordinary rally New government socialising rules in a bid to tackle rising Covid case numbers In the US, Trump enjoys a surge in the polls: the election is not a done deal The UK government and […]

Global Markets to 23rd August 2020   Highlights Global equity markets suffer a volatile week, responding to mixed economic data Many of Wall Street’s leading indices hit new, all-time highs, despite market volatility In just two decades, Apple has gone from near-bankruptcy to being the most valuable company in the world Covid causes national debt […]

Global Markets to 9th August 2020   Highlights The Covid-19-catalysed innovation tidal wave is creating many investment opportunities. This structural transition is nothing new: it has been under way since the global financial crisis: Covid-19 has simply accelerated it. Low interest rates and bond yields have created a world of muted economic growth. The new […]

Global Markets to 26th July 2020   Highlights Global equity markets have delivered extraordinary returns since the end of March, but storm clouds are gathering. US corporate earnings results and the Federal Reserve Bank’s predictions about the US economy will influence the markets over the coming weeks. Covid-19 cases are on the rise in a […]

Global Markets to 12th July 2020   Highlights Global equity and bond markets have a good week as governments across the world continue to ease the lockdown. Sovereign bonds and gold continue to benefit from an appetite for safe-haven assets. The US sees its biggest ever single-day rise in Covid-19 cases. The UK Chancellor unveils […]

Global Markets to 5th July 2020   Highlights The second quarter of the year sees an extraordinary rally in global equity and credit markets. Governments and central banks remain steadfast in their drive to beat the virus and get the global economy back on track. While the economic data remains very weak, some green shoots […]

Global Markets to 21st June 2020   Highlights Global equity markets experience another mixed week as they continue to be buffeted by Covid-19 and economic data  Weaker predicted global economic data for the second quarter could mean that the bottom has been reached     Further central bank stimulus is announced by the Bank of England and […]

Global Markets to 7th June 2020   Highlights Global equity markets rally strongly throughout the week, boosted by some surprising data Global economic data remains mixed, but the situation in the US is looking better European Central Bank president Christine Lagarde announces a further stimulus push, indicating that more needs to be done A forceful […]

Global Markets to 29th May 2020   Highlights For the second consecutive month, the majority of global equity markets rally strongly. Lockdown measures are eased, although fatalities continue to rise and anxieties persist over the possibility of a second wave. Additional support measures are announced by the European Union in the shape of a €750 […]

Global Markets to 18th May 2020   Highlights The Covid-19 pandemic and intervention from authorities create volatile and unpredictable markets for investors. The global economic and corporate earnings backdrop looks dreadful over the short term, but global investors are beginning to look beyond this in the hope of better times ahead. Governments and central banks […]

Global Markets to 4th May 2020   Highlights Investors buy into optimism rather than sell into pessimism, pushing global equity markets higher. The S&P 500 Index and the Dow Jones Industrial average surge. But data remains grim: unemployment rises, economies shrink and Q2 corporate profitability looks poor. The technological revolution accelerates on the back of […]

Global Markets to 27th April 2020   Highlights Financial markets are dominated by the unprecedented collapse in the crude oil price as the May contract for physical deliveries collapses, sapped by a total lack of global demand. As long as the majority of the world remains in lockdown, any change in oil prices remains unlikely, […]

Global Markets to 20th April 2020   Highlights Global equity markets register their second week of gains, despite some awful economic data and corporate earnings reports. Year-on-year, China’s economy shrinks for the first time in four decades. But shops, restaurants and some small businesses are beginning to reopen (with safety measures in place). Early indications […]

Global Markets to 6th April 2020   Highlights The last two months have been a rollercoaster ride for financial markets and global investors: euphoria at the start of the year has given way to despair Data released over the coming weeks will show just how severe the effects of coronavirus will have been on the […]

Your Questions, Our Answers   As we approach the end of the tax year for 2020, we are still experiencing the most extraordinary circumstances.   The IQ team is well and is now fully accustomed to working from home. We use videoconferencing facilities to hold regular team meetings and are keeping up-to-date with our clients […]

Global Markets to 22nd March 2020   After another tough week for clients and staff alike, we would like to thank you all for your patience and support. Our advisers are doing their very best to make sure that we have continued and regular contact with you. Following Petronella’s message last Monday, I am writing […]

Global Markets to 9th March 2020   Highlights It’s another difficult week for global stock markets as uncertainty over the coronavirus continues to affect sentiment towards risk assets. The Federal Reserve Bank cuts interest rates by 0.50 basis points, with the central banks of Australia and Canada taking similar action. The 10-year Treasury benchmark yield […]

Global Markets to 2nd March 2020   Highlights Global stock markets aggressively correct as the coronavirus spreads throughout the world and US Treasury yields hit all-time lows as global investors seek safe-haven asset classes Brent crude oil prices continue to fall, while the fear gauge index climbs to its highest level since 2018 Governments, central […]

Global Markets to 24 February 2020   Highlights Downbeat economic data, partly linked to the coronavirus, takes its toll on global equity markets. In the US, the technology-heavy NASDAQ index falls following Apple’s warning that it will not meet its financial guidance for the current quarter because of Covid-19. The search for safety by investors […]

Global Markets to 10 February 2020   Highlights While the coronavirus continues to make the headlines, the world’s financial markets – with the exception of China’s – seem to have emerged unscathed. Hopes that the central banks will remain sympathetic and implement further monetary actions, China’s announcement of a reduction in US tariffs and President […]

Global Markets to 03 February 2020   Highlights Global equity markets suffer the effects of the coronavirus as the epidemic spreads beyond China. The UK finally leaves the European Union. The task for London and Brussels now is to carve out a trade deal before the end of the transition period. Governor of the Bank […]

Global Markets to 20 January 2020   Highlights Washington and Beijing sign a historical “phase one” interim trade agreement, but the deal fails to tackle some of the more contentious issues, making phase two interesting. Britain’s retail sector contracts in December, resulting in the longest spell of zero growth since records began. Will this lead […]

Global Markets to 06 January 2020   Highlights Many investors were expecting 2019 to be volatile and unrewarding, particularly after the flash crash that hit the global equity markets in December 2018. If there were ever a time when the global stock markets would be more uncertain and unpredictable, it was surely going to be […]

Global Markets to 16 December 2019   Highlights Political events on both sides of the Atlantic positively impact global equity markets. In the UK, the Conservative Party’s landslide victory leaves Labour in disarray. A historical “phase-one” trade deal seems to have been reached between the US and China, potentially boosting global growth as we enter […]

Global Markets to 09 December 2019   Highlights Financial markets continue to be buffeted by contradictory reports from Washington and Beijing about trade talks and whether a deal will be signed this month. President Trump visits London ahead of the NATO meeting which ends in apparent disunity. In the UK, the main political party leaders […]

Global Markets to 25 November 2019 Highlights Wall Street continues to flourish, trading within a narrow range and in sight of its all-time high. Washington and Beijing seem eager to sign a phase one trade agreement, but Presidents Donald Trump and Xi Jingping are still unclear regarding the content and timing of this significant development. […]

Global Markets to 11 November 2019 Highlights Trade-talk sentiment between China and the US continues to drive global equity markets and fluctuations against a backdrop of conflicting statements. The world’s leading central banks turn on their liquidity taps as concerns multiply over growth and corporate profitability. The UK General Election campaign gets underway with Conservatives […]

Global Markets to 4 November 2019   Highlights Global equity markets rise on better-than-expected global economic data and further central bank loosening. In the US, October’s non-farm payroll numbers surpass consensus forecasts and are better than the previous month. For the third time this year, the US Federal Reserve Bank cuts its policy rate by […]

Global Markets to 21 October 2019   Highlights Global equity markets slip further following an action-packed week around the world. Trade talks between the US and China paint a nuanced picture. China’s recent weaker economic growth data affects global economic growth sentiment. Brexit drama continues as the PM’s revised deal is debated in Parliament on […]

Global Markets to 14 October 2019   Highlights Global equity markets continue to be buffeted by US-China trade tensions and Brexit, but recent talks offer optimism. Global bond yields are at a 120-year low with signs of falling further as central banks discuss additional rate cuts and quantitative easing. Federal Reserve Bank Chairman, Jerome Powell, […]

Global Markets to 23 September 2019 Highlights Global equity markets react with circumspection to central bank policy, trade discussions and a spike in the oil price. Trade talks between the US and China are reported to have been constructive and the two superpowers are to engage in further dialogue in October. The Federal Reserve Bank […]

Global Markets to 16 September 2019 Highlights The global economy continues to suffer the effects of the ongoing trade war, but central bank policy remains sympathetic and supportive. Recent optimism over US-China trade talks gives global equity markets a boost. The European Central Bank reasserts that rates will remain low: it cuts interest rates and […]

Global Markets to 09 September 2019 Highlights Global equities begin to recoup some of the losses they suffered in August. The global economy continues to endure the effects of the trade war, but some commentators believe that the central banks will come to its rescue with further aggressive monetary stimulus. Investor confidence is tested by […]

Global Markets to 19 August 2019 Highlights It’s a wild week for Wall Street traders as bond yields invert and recession worries spook equity markets around the globe. President Trump and the Federal Reserve Bank continue to agree to disagree about setting interest rates, paving the way for a further period of uncertainty. The US […]

Global Markets to 12 August 2019   Highlights Trading is highly erratic on global stock markets as President Trump ratchets up tensions between the US and China. The scramble for US debt as a safe-haven asset class pushes yields even lower, increasing concerns that a recession may be in the offing. In Italy, an autumn […]

Global Markets to 5 August 2019   Highlights Global stock markets retreat on Trump’s tariff threats and fears of Chinese retaliation. US interest rates are cut by 0.25 basis points amid concerns about the global economy and weaker inflation. For the second quarter of the US corporate earnings season, 76% of S&P 500 companies have […]

Global Markets to 15 July 2019 Highlights Wall Street continues its bull run after the Federal Reserve Bank’s dovish statement. The Dow Jones Industrial Average reaches 27,000 for the first time ever, while the S&P 500 hits an all-time high and trades above the 3000 level. These are historic milestones on the world’s largest stock […]

Global Markets to 08 July 2019 Highlights As we enter the second half of the year, a review of the first six months of 2019 proves incontestably positive – the MCSI World Index records gains of 15%. While stock markets in China and US are leading the way, many other markets make strong gains, with […]

Global Markets to 24 June 2019 Highlights It’s another good week for the financial markets, with several records set and milestones reached in stocks, bonds, gold and crude oil. On Wall Street, the S&P 500 Index reaches a record all-time high, energised by Fed talk of interest rate cuts and confirmation that Presidents Trump and […]

Global Markets to 17 June 2019 Highlights Global equity markets struggle to make further headway as safe-haven assets, such as sovereign bond markets, are in demand. German Bund yields hit record lows following weak Chinese data and tanker attacks in the Gulf of Oman. Tensions increase between Washington and Tehran over those tanker attacks in […]

Global Markets to 10 June 2019 Highlights Financial markets react to further US trade tariffs as Washington turns its attention to Mexico The latest US jobs report reignites concerns that the world’s largest economy may be slowing down In the US Treasury market, yields continue to fall after a weaker-than-expected US jobs report and continuing […]

Global Markets to 03 June 2019 Highlights Global equity markets suffer in May with the MSCI World Index retreating by 6%. A month of tariff tantrums between the US and China makes for a nervous backdrop for risk assets. The decline in global sovereign bond yields accelerated noticeably last month. The price of Brent Crude […]

Global Markets to 20 May 2019 Highlights Tit-for-tat reactions to trade tariffs from the US and China rattle global stock markets. Geopolitical tensions between the US and Iran push the price of crude oil up to US$73 a barrel. As global equity markets start to feel geopolitical tensions, the 10-year Treasury yield retreats on safe-haven […]

Global Markets to 13 May 2019 Highlights The US Administration increases tariffs on US$200 billion worth of Chinese goods. The EU fears that President Trump may hit the auto industry with tariffs. Global equity markets initially fall on the news of higher tariffs, but then quickly rebound. Brexit talks continue, the EU elections are fast […]

Global Markets to 29 April 2019 Highlights Wall Street hits a record peak before retreating on economic slowdown fears, despite the latest headline US GDP figure US corporate earnings are mixed, but Microsoft joins the US$1 trillion market cap club The UK Chancellor visits Beijing in the hope of winning more business and drumming up […]

Global Markets to 15 April 2019 Highlights The US corporate earnings season is underway, pushing the S&P 500 Index up to over 2900 for the first time since October. China’s latest economic data is better than the market was expecting, signalling a possible recovery. The outlook for global growth seems to be more positive again, […]

Global Markets to 08 April 2019 Highlights Global stock markets continue to rally on positive US job numbers and reduced concern over future US growth. In Europe, reports that German industrial production has rebounded faster than expected help European bourses. The UK requests a further delay to Brexit, while the President of the European Council […]

Global Markets to 01 April 2019 Highlights Global equities register solid first-quarter gains as central bankers ease monetary conditions and the two superpowers come closer to a trade deal. Wall Street benefits from positive sentiment and sees its best year start since 1998. Government bond yields decline on recession fears, creating both inverted and negative […]

Global Markets to 25 March 2019 Highlights Weak economic data affects the overall sentiment for global assets.   Wall Street suffers its worst day since January.   The inversion of US bond yields sparks fears of an imminent recession in the US.   Germany sees its 10-year government bond yield fall below zero.   Sterling […]

Global Markets to 18 March 2019 Highlights Global equity markets rally higher on Brexit news and mixed global economic data. On Wall Street, US stocks record their best week for more than three months. US-China trade talks continue, with promising progress. As the end of March approaches, it’s crunch time for the UK Prime Minister […]

Global Markets to 11 March 2019 Highlights Equity markets retreat from their recent highs amid fears over faltering global growth. Wall Street notched its worst week for 2019, following disappointing US jobs numbers. The European Central Bank cuts its eurozone growth forecast after disappointing data. China reports its steepest year-on-year decline in exports in three […]

Global Markets to 04 March 2019 Highlights Global stock markets register healthy gains for the first two months of 2019 which suggests that global investors have regained their appetite for risk assets. China’s leading stock market indices continue to rebound following reports of a pick-up in growth and news of an increase to Chinese weightings […]

Global Markets to 25 February 2019 Highlights Global stock markets continue to be buoyed up by optimism in relation to the trade talks and the likelihood of further positive dialogue among policymakers. Optimism regarding the latest US-China trade talks also helps Asian stock markets. European bourses enjoy a bullish week overall as trade talks and […]

Global Markets to 18 February 2019 Highlights Wall Street continues to rise, registering its eighth straight weekly gain and its longest winning streak since November 2017. In Europe, the euro weakens as European Central Bank officials begin to express concern over slowing eurozone growth prospects. Confusion reigns in Westminster as Prime Minister Theresa May suffers […]

Global Markets to 11 February 2019 Highlights Global equity markets begin to refocus on the US-China trade talks and the likelihood of the two global superpowers finding a meaningful solution. Following the S&P 500 Index recording its best January since 1987, the markets are now reacting to weaker economic data from the Eurozone and China. […]

Global Markets to 4 February 2019 Highlights Wall Street’s S&P 500 Index notches up its biggest January rise since 1987. The latest US payroll numbers surge in January, despite the government shutdown. While fourth-quarter US corporate earning numbers are generally positive, there are some mixed messages, particularly in the technology sector. The US bond market […]

Global Markets to 28 January 2019 Highlights Wall Street rises for the fifth week in a row as investors continue to buy US equities in the wake of the markets’ biggest recorded drop in December. President Trump backs down on the longest US government shut-down in history – although this may only be a temporary […]

Global Markets to 21 January 2019 Highlights Global equity markets continue to rally for the fourth week in a row. The current US-China trade talks give further grounds for optimism. Risk assets are buoyed by the latest US Industrial production numbers and China's recently-unveiled stimulus measures. In the UK, emotion continues to run high among […]

Global Markets to 14 January 2019 Highlights Global equity markets start the year in a positive mood as investor confidence returns. The United States and China hold important trade talks, and while we await details of them, early signs are positive. Recent core inflation data should give the US Federal Reserve Bank more time to […]

Global Markets to 07 January 2019 Highlights Global equity markets begin the New Year in a positive mood after the Christmas sell-off. US and Chinese officials commence trade talks, hopefully with a view to better relationships. Federal Reserve Bank chairman Jerome Powell soothes the financial markets with a sensitive message, asserting that there is no […]