The apparent calm masked troubling
turbulence for markets below the
surface
Monthly viewpoint – March 2023
When sizeable banks fail investors are
rightly nervous, and this was immediately
reflected in markets
Monthly viewpoint – February 2023
The month of February proved to be altogether more challenging
Monthly viewpoint – January 2023
Growing confidence that inflation in the US and Europe has peaked, with data showing both consumer and producer prices coming in below expectations, boosted markets
Monthly viewpoint – December 2022
Inflation, monetary policy tightening, supply chain disruption, fears of recession, remain the dominant themes as we enter 2023
Monthly viewpoint – November 2022
The best returns came from emerging
markets, up 14.8% in November, driven
by an extraordinary rise in China of 30%
Monthly viewpoint – October 2022
… the peak of inflation is now within sight, albeit with considerable uncertainty around further policy tightening required to bring it sustainably to target levels of around
2%
Monthly viewpoint – September 2022
… with peak inflation approaching, policy tightening well underway and growth slowing, markets will in due course start to discount the recovery which will surely come