Looking forward
04 Aug 2021Billions of fiscal support handed out at the start of the pandemic looks set to be lost as many bankers grow weary of defaults. Around 5-10% of SME’s have…
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No trace
03 Aug 2021The FTSE gained 0.70% yesterday as sentiment began to lift after the tech crackdown in China last week. Sterling is ticking higher this morning, lifting above…
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The path less travelled
02 Aug 2021On a trade-weighted basis, the Pound had its best performing week since May 2021 last week, closing 0.56% higher as broader risk sentiment improved and the UK’s…
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Price boom
02 Aug 2021Pfizer has begun raising its Covid shot price after new research has revealed its vaccines are more efficacious than other jabs. In some of the latest EU…
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Positive signs
30 Jul 2021The S&P 500 closed 0.42% higher yesterday, despite worse-than-expected US GDP data. Robinhood finished the day 8.40% lower in a disappointing initial public…
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Fed begins to budge
29 Jul 2021The FTSE 100 nudged 0.29% higher yesterday as travel shares bounced amid news of quarantine-free travel between the UK and EU/US. The S&P 500 finished flat as…
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Fed waits in the wings
28 Jul 2021The FTSE 100 closed 0.42% lower yesterday with some disappointing UK earnings results. Sterling had a broad-based rally late afternoon, with Cable reaching…
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Greater backing needed
27 Jul 2021Yesterday, the FTSE 100 closed 0.03% lower, while across the pond the S&P 500 edged 0.24% higher. Cable is trading around $1.38 this morning while GBP/EUR is…
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Tipping point
26 Jul 2021Sterling began last week in the red, falling almost 1.6% by Tuesday afternoon as the UK’s Covid restrictions eased further and cases of the Delta variant…
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Infection rates in focus
26 Jul 2021The S&P 500 closed 1.01% higher on Friday after a positive week for US corporate earnings. Cable has been trading range-bound this morning while EUR/USD has…
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Shifting tone
23 Jul 2021The S&P 500 climbed 0.20% yesterday despite US Weekly Jobless Claims ticking higher. The FTSE 100 closed 0.43% lower as the European Central Bank announced a…
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Change in direction
22 Jul 2021UK markets finished higher yesterday as Public Sector Net Borrowing data undershot the Office for Budget Responsibility’s forecast; the June 2021 figure was…
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Border tensions
21 Jul 2021The UK plan to shake up the original trading arrangement between themselves and Northern Ireland (NI), to remove checks on the Irish Sea Border. The current…
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Freedom Day falls flat
20 Jul 2021Equities snapped back yesterday as fresh concerns around the Delta variant hit markets. Investors are unnerved at the potential for the Coronavirus variant to…
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Matching optimism
19 Jul 2021Binance, the cryptocurrency exchange platform, has been under pressure again as the global crackdown on the alternative asset deepens. Regulators in Lithuania…
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Testing slowdown
19 Jul 2021As the Delta variant continues to push infection rates higher in England, access to regular testing appears to be increasingly difficult. The national booking…
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Decision time
16 Jul 2021The UK unemployment figure ticked higher yesterday to 4.8% from 4.7% last month. Weak jobs data and the rising expectations of higher oil supply pushed the FTSE…
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Delta disruption
15 Jul 2021UK markets finished the day lower as inflation hit its highest level in three years, the FTSE 100 was down 0.47% on the day. Cable continues to trade in the…
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Consumer prices rise again
14 Jul 2021Inflation rose yet again in June, far ahead of analysts’ expectations, placing pressure on the Bank of England to begin some kind of tapering in monetary…
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Shift in view
13 Jul 2021European Central Bank policymakers are due to meet next week to discuss a change of guidance on monetary policy, specifically interest rates. The decision of…
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A sunny tone
12 Jul 2021Looking forward this week, we’re likely to see more key central bank contributions to the inflation vs stimulus tension staked out by the Fed and ECB last week.…
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Gloomy picture
12 Jul 2021The economic recovery on the continent is at risk of being undermined, with soaring infection rates and some areas of the travel industry closing. Countries…
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Uneven footing
09 Jul 2021The S&P 500 closed 0.86% weaker yesterday, as US bond yields fell to their lowest level since February. In the UK, the FTSE 100 closed 1.68% lower amid worries…
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Tapering to come
08 Jul 2021The S&P 500 finished 0.34% higher yesterday, as the Federal Reserve hinted at potential monetary policy tapering to come in the next few months. The FTSE 100…
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Tighter grip
07 Jul 2021US markets began the week slow after the public holiday, with the S&P 500 falling 0.2% and the Dow Jones contracting 0.6%. The FTSE 100 fell 0.89% despite…
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End in sight
06 Jul 2021Boris Johnson has opted to push ahead with ending Coronavirus restrictions on July 19th, despite contrary advice from scientific advisors. The government has…
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Labour squeeze
05 Jul 2021As economies begin to re-open, businesses have struggled with the seeming lack of labour supply; generous unemployment benefits have reduced the incentive to…
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Two weeks out
05 Jul 2021US Non-Farm Payrolls data posted a better-than-expected figure last week, showing 850K jobs were added over the month. The S&P 500 finished in the green yet…
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Global minimum tax agreed
02 Jul 2021All the G20 have signed up to the plan to ensure multinational companies pay at least a minimum global tax rate of 15%. Nine of the 139 countries involved…
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Winter vaccine booster
01 Jul 2021Financial services firms in London look to be the welcome recipients of an exemption from the new multinational tax system. Current regulation means banks need…
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Travel sector pressured
30 Jun 2021The Delta variant is beginning to cause issues in Europe, as countries such as Spain try to weigh the threat of the virus...
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Re-opening in focus
29 Jun 2021‘UK must “learn to live” with Covid, says new health secretary’...
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Daily Report Monday 28th
28 Jun 2021UK tax body hoping to recover £1bn from furlough and self-employment fraud...
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More than a feeling
25 Jun 2021The Euro gained last week from lows of $1.1850 to back above $1.1950, helped by German 10-year bond yields rising to -0.17% from -0.20% on Monday. Elsewhere,…
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Biden gets the green light
25 Jun 2021While it's not quite the $2.3tn spending plan that was announced in March, this is still a big step forward for the Biden administration. The new $1tn package…
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Lagging behind
24 Jun 2021London is preparing to hold a vaccine summit to resolve the uptake issue in the capital. Only 70.7% of adults aged 50-54 have had both doses, while elsewhere in…
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BoE in focus
23 Jun 2021All eyes are on the Bank of England this week as pressure mounts to begin tightening monetary policy. Two interest rate hikes by the end of 2023 were announced…
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Supply strains mount
22 Jun 2021Disruption at one of the largest shipping terminals in the south of China is placing more stress on an already damaged supply chain. Coronavirus infections…
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A surprising reversal
21 Jun 2021In the previous April meeting, the FOMC had struck an uncertain tone about the rebound of economic prospects and whether they would lead to a sustained increase…
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More delays to come?
21 Jun 2021Officials in Europe feel that case rates are rising too quickly, and with not enough vaccinations in the total population, further lockdown extensions are being…
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