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Despite expectations that inflation would fall, the Office for National Statistics announced on Wednesday that consumer price inflation in the UK remained at an annual rate of 8.7% in May. Having seen a reduction in the US and other European nations in recent weeks, the UK bucked the trend and continues to see the fastest…
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This week saw the release of the much-anticipated inflation figure for May in the US and the Federal Reserve’s (Fed) latest decision on interest rates. On Tuesday, we got confirmation that inflation continues to trend lower in the States, with inflation in the year to May at 4%, having been 4.9% in April. This was…
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It was a generally positive week for equity markets. Investment sentiment was dominated by the possible implications of inflation proving stickier than expected across the globe. With hopes that interest rates were close to peaking in most developed markets, there was surprise this week when both the Bank of Canada and Reserve Bank of Australia…
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With sentiment dominated by events across the pond in Washington D.C., it was a mixed week for investment markets. On Wednesday night, there was a sense of relief as, with a vote of 314-117, the US House approved the debt ceiling and budget cuts package. The agreement now heads to the Senate with sign-off expected…
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Investment markets were broadly lower over the week as market sentiment remained fragile. Despite continued talks about raising the US debt ceiling, no agreement has yet been reached and, closer-to-home, inflation data in the UK caused concern. On Wednesday, the Office for National Statistics (ONS) released the latest UK inflation data. On the positive side,…
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This week, investors took comfort from the encouraging signs regarding the negotiations in the States to raise their debt ceiling, with US President Joe Biden saying he was “confident” of reaching an agreement before the deadline. For context, the debt ceiling was established in 1917 to give the US Treasury Department flexibility in managing the…
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Are you starting to think about how your assets and wealth can be passed effectively to future generations? Family Investment Companies (FICs) and Trusts are two options that facilitate the accumulation and transfer of wealth, in a tax efficient manner. FICs have become popular due to the tax benefits they provide which can create significant…
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On Wednesday, we saw the latest inflation data released in the United States. With expectations that there would be no change from the March figure of 5%, the market was pleased to see a slight fall in April to 4.9%. The fall marked the 10th monthly decline since peaking in June last year at 9.1%…
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Whilst earnings season continued, attention this week turned to the Federal Reserve (Fed) which met to decide interest rates in the United States. In line with expectations, the US central bank raised interest rates 0.25% to a target range between 5% and 5.25%, which sees interest rates in the States at their highest level for…
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Weekly Market Update- Week Ending 30/06/2023
The leaders of the world’s top central banks convened this week in Sintra, Portugal, not for an early summer holiday, but to discuss their views on the global economy in the year ahead. Investors were keen to hear the individual progress reports on how their battles against inflation were unfolding. The general theme communicated was…
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