In November’s episode of the Evelyn Partners Investment Podcast Cherry Reynard and Daniel Casali look at whether confidence has returned to UK assets with a new Prime Minister at the helm. They also discuss global financial markets, asking what it will take to restore equilibrium: an about-turn from the Fed is a necessity.
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- After the volatility surrounding the mini-budget – and Liz Truss’s departure as Prime Minister – some stability has been restored to UK assets. Gilt yields have dropped, though remain some way from their level at the start of August. Sterling has recovered but remains volatile. These fiscal missteps have dented the UK’s reputation for prudence
- Elsewhere, global equity and fixed income markets remain difficult. The root of the problem remains with the Federal Reserve (Fed) and volatility is likely to continue until there are clear signs that inflation is under control and the central bank has changed direction. As Cherry Reynard and Daniel Casali explore in this month’s podcast, this could be sooner than investors expect, with signs that inflation is peaking
- Markets are also watching energy prices. Plans from OPEC+ to reduce output are not encouraging. Countries within the oil cartel may be pushing back on the West’s desire to drop prices. Energy is increasingly becoming weaponised and should lead to sustained high oil prices. This could complicate the job of the Fed to stamp down hard on inflation
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