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Date: August 14, 2017
Markets started to stabilize by Friday after US-North Korea tension rattled global assets, as investors were seen switching to risk-off mode, with gold, bonds and the yen all rising. President Trump stepped up his campaign of pressure on North Korea, promising a response to any strike against America or its allies. It has shaken global markets, a sell-off was seen in Asia. The CBOE Volatility Index climbed to the highest level since Trump’s election victory, while gold hit a two-month high. While Korea tensions still remain in focus, US stocks halted a three-day slide, volatility eased and Treasuries slipped.
Date: August 7, 2017
While strong economic growth boosted optimism with positive jobs report and growing consumer confidence, markets continued to shrug at mounting signs that President Donald Trump’s policy agenda has run aground, with assets from stocks to the dollar largely looking past reports Thursday that Special Counsel Robert Mueller’s probe into Russia’s meddling in the 2016 election has intensified. The likelihood of a grand jury being named could potentially indicate that there is enough evidence of a crime. The Dow Jones Industrial Average initially fell, but only by 0.2% and it promptly resumed a rally that this week saw it charge through 22,000 points.
Date: July 31, 2017
The Nasdaq 100 endured an uncontrolled selloff, with Amazon leading the way lower. Broader equity gauges were spared major pain as a rally in energy helped pick up the slack; the Dow Jones Industrial Average closed at a fresh record. Economic data revealed the U.S. economy rebounded in the second quarter, however, results for the first three months of the year showed the economy had slightly more tepid growth than previously reported. Before Friday’s selloff, signs of economic recovery had boosted stocks in the U.S. and globally to records. Technology shares have led the charge, with companies in the sector soaring 22 percent this year for the best performance among 11 groups in the S&P 500.
Date: July 24, 2017
Increased hawkishness from the ECB has helped the euro rally from lows last seen near the start of the millennium, with investors expecting tapering to start in the new year and pricing in a 10-basis point rate hike by September 2018. In the US, politics are again at the forefront, with reports that US special counsel Robert Mueller is expanding his investigation of Trump less than a day after the president told the New York Times that any digging into his finances would cross a red line.
Date: July 17, 2017
Fedspeak took center stage this week as Fed Chair, Janet Yellen emphasised the Fed’s narrative that the economy is healthy enough to withstand further rate increases and the process of balance sheet reduction is expected to begin this year.
Date: July 10, 2017
The hawkish tone from developed-nation central banks continued to roil financial markets, with U.S. stocks falling the most in seven weeks, Treasury yields rising to levels last seen in May and crude settling below $46 a barrel.
Date: July 3, 2017
Volatility is making a comeback, though still low by historical standards, as the debate on normalizing central bank policy intensifies after nine years of unprecedented stimulus. That suggests some investors are growing concerned about the economy’s ability to withstand a tightening cycle, even as data remains supportive.
Date: June 26, 2017
Changes to the benefits system since 2010, has mainly meant cuts with more to come. Between 2010-2015 there was a large scale change meaning £23 billion in cuts.
Frenkel Topping Welfare Benefits and Personal Injury Trusts Manager, Tracey Atkinson provides an invaluable update on Welfare Benefits and changes to entitlement and allowances.
Date: June 26, 2017
Weakness in energy prices were the theme of the week, with oil in New York and London dropping into a bear market on concerns that expanding supply in the U.S. and Libya will counter output cuts from the OPEC. This led energy stocks and the main indices lower, which were just bolstered by a rebound in tech shares. With little in the way of economic data, Fed speeches took centre stage, as markets continue to expect a September pause and a December interest rate hike.