Many of us will have spent the weekend watching the World Cup with friends. Meanwhile, in China, the country's zero-COVID policy has held much of its population under a form of lockdown. Last week saw widespread protests against the policy, which resulted in some restrictions being
Equity markets trended higher last week, as investors were allowed a sliver of optimism around the future of the global economy. Recent data for factory gate prices and shipping rates have shown falls in prices from their COVID-19 related peaks. Constrained supply chains have been one
Last week, UK Chancellor Jeremy Hunt released his inaugural Autumn Statement, which received a very different reaction to the ‘mini-budget’ of his predecessor. While Kwarteng’s Budget in September had offered tax cuts paid for with borrowing, Hunt instead offered a sobering medium-term picture, with an increased
Last week was very much a tale of two continents, with improving inflation figures in the US contrasting with a drop in UK GDP. Outside of this, arguably the biggest news was the US midterm elections, where a predicted ‘Red Wave’ was expected to see President
Not for the first time this year, markets have been dominated by interest rate discussions, with decisions coming from both the UK and the US last week. In the UK, the Bank of England (BoE) raised rates to 3% – a 0.75% increase – as it
Jeremy Hunt is a Generation X, so he may remember the early-80s chart hit, “Rip it up and start again”. Last week, he did just that. In normal times, news that a chancellor had binned his prime minister’s economic plan would have stolen the headlines. But
“The economy, stupid!” So read the sign on the wall of Bill Clinton’s presidential campaign headquarters, reminding his team what mattered most to voters. It worked for him in 1992. In 2022, Liz Truss has been taught a harsh lesson in what happens if you don’t
In 1972, Led Zeppelin recorded ‘The Song Remains the Same’. Fifty years on, market commentators could also be excused for wishing someone would change the music. Once again, inflation and the Federal Reserve dominated the headlines. It was a week of two halves. Global stocks started
The fallout from the new UK government’s “Growth Plan” continued last week with the domestic sovereign bond market experiencing unprecedented volatility. The announcement of huge tax cuts alongside the previously announced energy subsidy package – both to be funded through considerable borrowing – spooked financial markets.
On Friday, new UK Chancellor Kwasi Kwarteng delivered a series of tax cuts as part what was originally dubbed a ‘mini budget’. The ‘mini’ description ended up being misnomer, as Kwarteng delivered a set of reforms and changes, which have been described as the biggest tax
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