Cambridge Weekly – 25th January 2021

Sigh of relief As Joe Biden was inaugurated as the 46th president of the United States last Wednesday, a collective sigh of relief, at the return of civility, decency and a genuine interest in the wellbeing of all citizens, could be felt around the world. Perhaps not...

Cambridge Weekly – 18th January 2021

Fiscal turbo replaces lame duck Trump As we wrote last week, there is a broad consensus that this year will see a strong economic rebound as mass vaccinations finally put an end to the pandemic – even if we have to wait until the second half of the year to see it....

Cambridge Weekly – 11th January 2021

End points and new beginnings Just like 2020, 2021 has kicked off with rather more lively news flow than many will have hoped for when they gladly said goodbye on New Year’s Eve to what many experienced as a truly annus horribilis. Yet even though events of massive...

Cambridge Weekly – 21st December 2020

Goodbye to all that December usually has a ring of ‘Silent Night’ in the investment world and, in a year where practically all else has changed, at least this has stayed the same. In the UK, news that millions more would be placed under tougher restrictions over the...

Cambridge Weekly – 14th December 2020

A high stakes game of principle chicken This week’s edition was meant to focus on our annual outlook for the coming year, while working under the assumption that the UK and Europe would by now be operating under a ‘skinny’ trade deal that would prevent tariff hurdles...

Cambridge Weekly -30th November 2020

Fiscal floundering During a week when global stock markets continued their more gradual upwards trend, government policy was in full focus, but offered little in support. For the UK, it looks like ‘out of the frying pan into the fire’ when official lockdown ends on...

Cambridge Weekly -23rd November 2020

More tunnel before the light The November rally in stock markets finally petered out last week as it felt as if ‘November finally got the memo about 2020’. This was despite further positive vaccine news that bolstered optimism for next year. Last Monday, US firm...

Cambridge Weekly -16th November 2020

Change is in the air.    Investors have enjoyed another very good week. Optimism had already returned the previous week, with the US election eventually delivering a clear verdict. Last week then brought the news that literally everybody had been waiting and hoping...

Cambridge Weekly – 9th November 2020

Looking beyond the obvious We wrote only last week that markets hate uncertainty. Given that equity, bond and commodity markets were all quite a lot stronger at the end of the week, many investors must have gained clarity, if not optimism. There are a lot of important...

Cambridge Weekly – 2nd November 2020

Unsettled week ahead – or behind? In the first article of The Cambridge Weekly we normally discuss the relevance of the weekly news flow for the development of our longer-term picture for our investors. Usually, our conclusion is that the noises of the week need to be...

Cambridge Weekly – 26th October 2020

Sunlit uplands or COVID gorge? Halloween is around the corner and markets had plenty to frighten them last week. Across Europe, the second wave of infections has risen higher than the first. While new lockdown measures are less stringent this time (schools and...

Cambridge Weekly – 19th October 2020

Watching and waiting A noticeable winter chill is in the air. The threat of fresh lockdown measures has become reality, with renewed restrictions coming into force not just in the UK, but across most of continental Europe as well. But unfortunately, the UK – once...

Cambridge Weekly – 12th October 2020

Baffling market optimism Following the unsteadiness of September, markets have further regained their composure and continue to drift upwards. This stands in stark contrast to the flow of bad news. The White House, centre of power for the mighty US, has become a COVID...