The Cambridge Weekly – 07 February 2022

The Lagarde pivot hits insecure markets We made the case last month that we disagree with the market maxim that “How January goes, so goes the year”, at least for 2022. After a disappointing January for investors (see our January market review), February made a...

The Cambridge Weekly – 31 January 2022

Taper Tantrum 2.0 fears rattle markets The unnerving start to the year escalated last week, with many lay observers attributing market volatility to the rising possibility of war between Russia and Ukraine. But, as outlined in the video market update we posted last...

The Cambridge Weekly – 24 January 2022

A bumpy road to somewhere It has been an all-action year so far. Global equity markets have been in a downward trend since the end of 2021, led by US stocks. America’s mega-cap tech companies that were so loved throughout the pandemic have taken the biggest hit – with...

The Cambridge Weekly – 17 January 2022

Markets caught between hoping and dreading London was a tale of two cities last week: Panic in Whitehall but calm in the City. The scandals seem to keep coming for Boris Johnson, with several Tory MPs openly calling for his resignation. Betting markets now have the...

The Cambridge Weekly – 10 January 2022

January déjà vu Although 2021 did not close with another ‘Santa rally’, December – and the year as a whole – generated some pleasing returns for diversified investment portfolios. Compared to 2020 (another strong year in performance terms), equity investors fared...

The Cambridge Weekly – 20 December 2021

Christmas tidings of comfort, if not joy Dear readers, this week’s edition will be the final one for 2021 and we look forward to welcoming you back when we next publish on 10 January 2022. Looking back, the year has exceeded some expectations and underdelivered on...

The Cambridge Weekly – 13 December 2021

The Plan B or not Plan B? That is the question Equity markets bounced strongly on Tuesday. The catalyst was a flip in the coronavirus narrative that went: “the new variant is as contagious as the very first, but much less damaging. It confers some immunity. Triple...

The Cambridge Weekly – 6 December 2021

The pre-Christmas ‘quiz’ that not many want to play As the end of the investing year draws nearer, markets remain on edge, questioning everything that it thought it knew the answers to only very recently. But last week, central bank and government policy, inflation...

The Cambridge Weekly – 29 November 2021

New COVID variant flattens ‘Black Friday’ feeling It was a Thanksgiving week of mixed news. The European COVID case surge was surpassed in negative impact by the fears of a new variant emanating from South Africa. US markets hit new highs just before the holiday, but...

The Cambridge Weekly – 22 November 2021

Dollar strength and divergence caps a dull week for investors Despite the negative news flow, be it COVID or politics, UK consumers are proving their resilience once again, with both October retail demand and domestic consumer sentiment pointing up. Perhaps the...

The Cambridge Weekly – 15 November 2021

Central banks struggle with messaging Following five weeks of global equity markets inching higher every week, risk asset markets slowed even though, for once, economic data was actually offering reasons to believe that the worst of supply chain constraints may be...

The Cambridge Weekly – 8 November 2021

No tantrum over this taper October’s positivity across global stock markets spilled over into the first week of November. That is with the exception of China, which appears to be increasingly isolating itself from the rest of the world. Not only was its leader very...

The Cambridge Weekly – 1 November 2021

Bond markets give central bankers a telling off Last week was generally positive for capital markets, although with one notable difference – this time bond investors were allowed to join in. Just as energy prices started stabilising, corporate earnings results proved...

The Cambridge Weekly – 25th October 2021

Confused or determined central bankers? Capital markets continued over the past week to recover just as gradually from the September/early October downdraft as they declined then. Many commentators put it down to the continued strong Q3 corporate earnings...

The Cambridge Weekly – 18th October 2021

Have we passed the peak of supply disruption? Last week we noted that October had picked up for investors where September had left off, namely equities slowly climbing down from the heights gained over the summer. As petrol availability returned even to London’s...