Royal spoils When it comes to Europe, investors prefer monarchies, or so said a study by CMC Markets. If correct, it would presumably mean Saturday’s Windsor nuptials – which cost taxpayers around £30 million – were a good long-term investment; the squads that faced off in
Persian peril “The rose that once has bloomed forever dies,” wrote Omar Khayyám, the Persian poet, some 900 years ago. So it may prove for the historic Iran nuclear deal of 2015, after Donald Trump pulled the US out last week – his plan to reinstate
High Marx “The production of too many useful things results in too many useless people,” warned Karl Marx, who was born 200 years ago last Saturday. What, then, might capitalism’s most famous critic have made of the 52.2 million people who bought themselves a new iPhone
Grand Tour During the Napoleonic Wars, well-heeled young ladies and gentlemen could no longer cross the Channel to swan through the towns of France and Italy on an extended ‘Grand Tour’ of European civilisation, as they had done for decades. So it was that the ‘Wye
Signal worries Equity investors largely enjoyed last week, as the correction of February felt increasingly distant. Even the VIX, leading measure of volatility on the world’s leading index, was back below its long-term average, having tracked gradually downhill over the course of the month. Moreover, as
Russian bear When Macbeth compared himself to “the rugged Russian bear”, he was steeling himself to speak to a ghost. Last Monday, investors in Russia needed some of that same ursine resolve, as the Russian market opened the week down more than 11% from its previous
Tubers and tariffs The Beast from the East has apparently contributed to the Jersey Royal potato season being at least three weeks behind schedule this year. But April’s crop wasn’t the only casualty of the recent cold snap. A busy week of Markit/CIPS Purchasing Managers’ Index surveys
Technology trouble On Monday last week, an unannounced diplomatic train pulled into a railway station in Beijing; reports soon surfaced that Kim Jong-un had come to town – the official photographs of Kim and the Chinese president followed two days later. The surprise trip was Kim’s
Borderlines The ‘slings and arrows of outrageous fortune’ were much in evidence on markets last week, as Wall Street suffered its worst week of trading since early 2016. Three developments overshadowed the period: two political and one monetary. The first was the White House’s decision to impose
Penny pinching In 1869, Eugène Meyer patented his 'high' pedal bicycle in France. In England, it soon became known as the penny-farthing, since the size mismatch between the two wheels echoed the mismatch between the larger penny and smaller farthing. The latter coinage was killed off
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