Investment Strategy: Second Quarter 2019
Welcome to the second quarter 2019 investment strategy.
(You can email, print or create a PDF using the convenient icons at the bottom right of each article).
General Market Review
Global growth is slowing but risk of recession remains low for now.
Read more
Specific Market Reviews: United Kingdom
As we finally reached the Brexit denouement (or at least thought we had!) the economy has taken a turn for the worse.
Read more
Specific Market Reviews: United States
US economic growth data for the final quarter of 2018 showed an annual rate of 2.6%, down on the 3.4% notched up in the previous three months but still pretty solid.
Read more
Specific Market Reviews: Europe
Macroeconomic data for Europe continues to be pretty dire. GDP growth was only 0.2% in the final quarter of last year with y/y growth not much above 1% compared to nearly 3% a year earlier.
Read more
Specific Market Reviews: Emerging Markets and Asia
Some of last years headwinds have abated, though probably not yet turned into tailwinds, for the emerging market stock markets.
Read more
Fixed Income
Bond funds, both Government and Corporate, produced healthy returns last quarter as yields fell and credit spreads narrowed.
Read more
Commercial Property
Writing a quarterly report about Commercial Property has become a bit like Groundhog Day, but in a nice way, with the ‘bricks and mortar’ property unit trusts consistently inching higher every month and last year was no exception.
Read more
Commodities
As a ‘risk on’ asset the oil price epitomises the great flip-flop that was the characteristic of financial markets last quarter.
Read more
Currencies
The US dollar had been the strongest of the major currencies in 2018 with the strongest economy, the tightest monetary policy and by far the highest interest rates.
Read more
HFMC Positive Impact Portfolios
In the Q1 newsletter we wrote a ‘teaser’ article indicating that we would be launching an ethical range of portfolios, available to both discretionary and advisory clients.
Read more
Investment Strategy: Second Quarter 2019
Welcome to the second quarter 2019 investment strategy.
(You can email, print or create a PDF using the convenient icons at the bottom right of each article).
General Market Review
Global growth is slowing but risk of recession remains low for now.
Read more
Specific Market Reviews: United Kingdom
As we finally reached the Brexit denouement (or at least thought we had!) the economy has taken a turn for the worse.
Read more
Specific Market Reviews: United States
US economic growth data for the final quarter of 2018 showed an annual rate of 2.6%, down on the 3.4% notched up in the previous three months but still pretty solid.
Read more
Specific Market Reviews: Europe
Macroeconomic data for Europe continues to be pretty dire. GDP growth was only 0.2% in the final quarter of last year with y/y growth not much above 1% compared to nearly 3% a year earlier.
Read more
Specific Market Reviews: Emerging Markets and Asia
Some of last years headwinds have abated, though probably not yet turned into tailwinds, for the emerging market stock markets.
Read more
Fixed Income
Bond funds, both Government and Corporate, produced healthy returns last quarter as yields fell and credit spreads narrowed.
Read more
Commercial Property
Writing a quarterly report about Commercial Property has become a bit like Groundhog Day, but in a nice way, with the ‘bricks and mortar’ property unit trusts consistently inching higher every month and last year was no exception.
Read more
Commodities
As a ‘risk on’ asset the oil price epitomises the great flip-flop that was the characteristic of financial markets last quarter.
Read more
Currencies
The US dollar had been the strongest of the major currencies in 2018 with the strongest economy, the tightest monetary policy and by far the highest interest rates.
Read more
HFMC Positive Impact Portfolios
In the Q1 newsletter we wrote a ‘teaser’ article indicating that we would be launching an ethical range of portfolios, available to both discretionary and advisory clients.
Read more