Please find below our Investment Market Update as at 14th July 2023.
A slightly shorter update this week given that next week Gary will be sending his quarterly review, including the views of all our investment partners and what to expect in the coming period.
So, our running order is as follows:
- Summary of what has moved markets this week
- Jeremy Hunt’s Mansion House speech and the implications for pensions
- Inflation; the beginning of the end or the end of the beginning
- Why we still favour the Asia Pacific region and what is happening in China
Markets this week
It is nice to be able to report a much better week for all main world markets. We have talked consistently about decoupling in the markets and the fact that the next period is likely to show a greater dispersion of performance between countries. This week though, all markets took their lead from positive events in the US.
This has then rippled through the UK, Europe and Asian markets which are all on the rise, even though US events have an indirect benefit on other countries. On Wednesday, US inflation was lower in all measures including ‘core’ inflation than even the pessimists had expected. This would appear to show that either as a result of rising interest rates or just the inevitable cooling of their economy, the US looks like it is slowing down (without doing so alarmingly).
Continues….
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Risk warning
Please Note: This communication should not be read as giving specific advice regarding your personal circumstances. This would only be given following detailed assessment of your individual needs. The value of investments may fall as well as rise; you may get back less than invested. Past performance is not necessarily a guide to future returns.
