It felt like this day would never come, but Brexit may finally be here! However, everything depends on the outcome of tomorrow’s (Saturday 19 October 2019) Parliamentary session when MPs vote on the deal.
Sentiment going into this week’s US/China trade talks was negative after the US placed eight Chinese technology companies on a US blacklist and China stopped NBA (basketball) broadcasts.
Global equity markets declined at the start of the week after US ISM manufacturing PMI came in at 47.8 in September.
While it has been an interesting week watching the latest political turmoil unfold in both the UK and US, it should be noted that this is just a sideshow as the main driver for markets is still the US/China trade talks (as this impacts global economic growth and corporate profitability).
Oil was of course the main focus at the start of the week after last Sunday’s (15 September 2019) drone attack on Saudi Arabia’s oil facilities which took out half of their oil production (roughly 5.7m barrels a day), which is around 5% of the total daily global supply.
It was another positive week for global equity markets thanks to positive developments on US-China trade relations and monetary policy easing by the European Central Bank.
As summer draws to a close, it was back to work for a lot of people this week, including UK politicians! The political turmoil which followed resulted in a volatile week for Sterling, whilst global equity markets posted modest returns.
After a disappointing end to last week following an escalation in US/China trade tensions, global equity markets rallied strongly this week on hopes that there will be a truce thanks to positive comments from Donald Trump.
Equity markets were dominated yet again this week by the US/China trade spat and speculation on central bank policy.
Whilst the past few weeks have been centred on sentiment overreacting to US President Donald Trump’s proposed September China Tariffs, earlier this week we saw conversations between both US and Chinese trade representatives result in the US delaying the 10% tariff on the majority of key goods until December, with the Chinese easing off on their proposed US agriculture tariffs.
When it comes to accessing retirement savings, it seems that there are a lot of mistakes being made.
24th September 2019
WEALTH at work, a specialist provider of financial education and guidance in the workplace supported by regulated financial advice for individuals, has created a series of financial education seminars for university students.
10th September 2019
It is very important to save for your retirement but many people may not realise that it could be possible to have the same disposable income in retirement as when they were working, even if their pension income is less than half their salary.
5th September 2019
