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June Market Commentary

Introduction May was a relatively quiet month, virtually nothing of any importance happened at all. Well, apart from the European elections, Theresa May’s decision to stand down and the re-escalation of the US/China trade war. Not content with that, Donald Trump imposed tariffs on Mexico and Angela Merkel decided that her potential successor wasn’t up […]

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March Market Commentary

Introduction February was another month when all the important news seemed to happen in the last week of the month. President Trump delivered the annual State of the Union address on February 6th and announced a second meeting with North Korea’s Kim Jong-un. The two duly met up in North Korea three weeks later, only […]

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February Market Commentary

Introduction The story of the US/China trade dispute was a thread running through much of last year. Some progress was made in resolving the dispute at December’s G20 summit and that appeared to continue in January with China saying it is ‘ready to work’ with the US. Donald Trump confirmed this, describing a telephone conversation […]

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January Market Commentary

A quiet wind down to Christmas? Everyone leaving their offices early and not much happening in the second half of the month? Nothing could be further from the truth: December was one of the most eventful months of the year and while there was some good news, it was eclipsed by falling stock markets as […]

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December Market Commentary

Introduction It is always difficult writing a report like this, as you are always trying to ‘hit a moving target.’ While you can record the stock market levels at the close of business on, say, 30th November, there is always the risk that the commentary is overtaken by events. That has never been more true […]

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November Market Commentary

Introduction October was, to put it mildly, an eventful month. It was a month which saw the majority of markets on which we report down steeply, as fears of higher interest rates in the US combined with worries about the US/China trade war. There was, however, one market that went up sharply: Brazil elected a […]

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October Market Commentary

Introduction On Tuesday, 3rd November 2020 the United States will go to the polls to elect its next President. All the indications are that Donald Trump will stand for a second term and if the words of Bill Clinton – “It’s the economy, stupid” – are to be believed, he will win. While not wanting […]

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September Market Commentary

Introduction August used to be known as the ‘silly season’. Everyone who made the news was away on holiday, nothing happened and newspapers were desperate to fill their pages. So rather more obscure stories made it into print… That, of course, was before Donald Trump. And Brexit. And Venezuela, Argentina and Greece. And… In short, […]

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July Market Commentary

Introduction Let us invite you to travel back in time to June 2016, to the day after the Brexit referendum. Meanwhile, across the Atlantic, campaigning in the US Presidential election is in full swing. You are offered two glimpses into the future. The first is that two years on, the UK has apparently made no […]

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June Market Commentary

Harold Wilson famously said that, ‘a week is a long time in politics.’ A month is a very long time when we come to write this commentary. Looking back to the first few days of May, the Royal Bank of Scotland was announcing plans to close 162 high street branches in the UK, Facebook said it was […]

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