magazine archive

magazine archive


How to tell if oil’s rally can continue

Thursday 21 Mar 2019

Almost unnoticed, oil is trading near four-month highs at $67 a barrel for Europe’s Brent Crude benchmark and $59 for America’s West Texas Intermediate. According to OPEC’s latest monthly report, demand is holding firm at between 97m and 98m barrels of oil a day. This suggests that any tightness in...

Why central bank caution should worry investors

Thursday 14 Mar 2019

Just two months after it halted its quantitative easing (QE) bond-buying programme and made vague promises of interest rate increases for the second half of 2019 the European Central Bank is already downgrading its GDP forecasts for the Eurozone and delving once more into its bag of monetary policy...

Is the US Federal Reserve stuck between a rock and a hard place?

Thursday 07 Mar 2019

As the central bank calibrates policy, pulling on levers such as interest rates and its unorthodox quantitative easing (QE) programmes, it is logical to assume that the US Federal Reserve is the lord of all that it surveys. After all, one goal of record-low interest rates and QE was to inflate...

Everything you need to know about modern monetary theory

Thursday 28 Feb 2019

After the global growth scare of 2018 financial markets appear to be regaining their nerve and verve, at least if global equities are any guide, for three possible reasons. First, US president Donald Trump continues to dangle the prospect of a trade agreement with China. Second, the prospect of...

Why investors need to start watching the race to the White House

Thursday 21 Feb 2019

The race to the November 2020 presidential election and the keys to the White House on 20 January 2021 is well and truly on. Investors in US equities will be hoping that history is on their side, as the third year of a president’s term has, on average, been the best one for returns from American...

Do European stocks need more quantitative easing to hit top gear again?

Thursday 14 Feb 2019

Legendary Prussian Field Marshal Helmuth von Moltke once noted ‘No plan of operations extends with any certainty beyond the first contact with the main hostile force’. Although he is not waging war in the physical sense, European Central Bank President Mario Draghi should have considered this...

Is Shanghai’s stock market ready to surprise?

Thursday 07 Feb 2019

China’s latest lunar year started on 5 February and investors will be delighted to welcome the Year of the Pig and say goodbye to the Year of the Dog. China ranks dead last in capital, local-currency returns from Asian markets over the past 12 months so its stock market has, frankly, been a dog. It...

Why transport stocks need to fire if global stocks are to steam higher in 2019

Thursday 31 Jan 2019

After two years of negotiations US President Donald Trump is coming up against a wall, just not the one he expected. House of Representatives Speaker Nancy Pelosi and the Democrats are blocking his plans to build a physical perimeter between America and Mexico and only agreeing to fund additional...

Is broking research any use or not?

Thursday 24 Jan 2019

At just under 3,900, the FTSE 350 index stands about 10% below its mark of a year ago, which may depress some investors, especially those less experienced ones who did not experience the bear markets, of 2000 to 2003 and 2007 to 2009 or – going further back the Asian crisis of 1997-98 or the Black...

Big deals mean gold may still have lustre

Thursday 17 Jan 2019

The investment decisions that generate the best returns are rarely the most comfortable or easy ones, and few asset classes generate such strong feelings as gold. Some investors will be inclined to share the view of economist John Maynard Keynes that the precious metal is a barbarous relic. Others...