Risky assets perform well in expansions, safe assets in downturns – the problem is we don’t know where we are going next

It is an indisputable general point that risky assets perform well in economic expansions and safe assets perform well in downturns. The problem at the moment is that we don’t know where we are going next. Indicators suggest that we could see economic expansion or contraction. At the same time valuations are not particularly attractive. […]

20 May 2016 by Chris Iggo

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Can investing in the US still come up trumps?

This time three years’ ago, US equities were going from strength to strength. The market had risen steadily since its 2009 trough and investors were jumping in with the kind of enthusiasm usually reserved for a plate of spare ribs or a slice of key lime pie. Nowadays, the S&P 500 (the US’s main share […]

16 May 2016 by Darius McDermott

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Now is not the time for heroics when markets are relatively expensive

Prospective returns from developed equity and bond markets are unexciting given the tepid growth outlook. It’s an investment environment that favours conservative strategies focused on sustainable income from diversified portfolios that have some kind of internal hedge. Dividend focused equities, short-duration high yield, inflation linked bond break-even spreads and peripheral debt are interesting plays at […]

15 May 2016 by Chris Iggo

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MPs are right to warn about misselling but they need to understand the issues better themselves

The public accounts committee has asked the Financial Conduct Authority to do more to understand where misselling is happening and what tools it can use to stop it in its latest report. But the report itself demonstrates just why that task is so difficult. First the report indulges is a little bit of history. Claims […]

13 May 2016 by John Lappin

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