Latest News

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 […]

Read more...

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, […]

Read more...

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 […]

Read more...

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 […]

Read more...

May Market Commentary

Introduction It looked for a long time that the main headline for this commentary would be the opening salvos in a trade war between China and the USA. The International Monetary Fund published a bullish report on world trade, saying that global growth will hit a 7 year high of 3.9% this year – giving […]

Read more...

April Market Commentary

Introduction To say that March was a busy month is an understatement. Russia went to the polls to elect a new President and, in the least surprising result of the year, Vladimir Putin won another six year term. With the Chinese Communist Party removing the rules limiting Xi Jinping to two terms in office, two […]

Read more...

February Market Commentary

The first month of 2018 was a good one for the major stock markets which we cover in this Bulletin. We report on 12 markets and 11 of them made gains in January – in some cases, spectacular gains, which many investors would regard as more than adequate for a full year. But sitting alone […]

Read more...

January Market Commentary

Another year seems to have flown by in the space of about five months. December, in particular, seemed to go past in a blur. It was, however, the month when some progress was – finally – made in the Brexit negotiations. It was also the month when Scotland used its tax-raising powers to increase income […]

Read more...

December Market Commentary

November was a relatively disappointing month for world stock markets, with the majority of the markets we cover in this commentary losing ground in the month: however, the largest fall was just 3% so there were no real disasters. Pride of place went to the Dow Jones index in the US, which was up by […]

Read more...

October Market Commentary

Well, we’re still here. Despite the seemingly best efforts of the leaders of the United States and North Korea – the world is still turning. But September was a month of ‘another day, another North Korean rocket flying over Japan’ and it ended with Kim Jong-un threatening to explode a nuclear bomb over the Pacific. […]

Read more...