QuotedData’s Economic round up – August 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored by Polar Capital.
August Economic and Political Roundup
Roundup
Global equity markets “climbed the wall of worry” in July. Despite the escalating trade war between the US and China and negatively impact global demand, Quantitative Easing (“QE”) turning to Quantitative Tightening (“QT”), all but two major global markets, Hong Kong and South Korea, delivered positive returns.
Global
The global bull market is in its later stages when periods of higher volatility can be expected.
Although their views vary at the margins, many of the managers of global and multi-asset funds accept that the nine-year bull market that began after the global financial crisis of 2008 is in its later stages and that we are reaching the top of the economic cycle. Given that, many write that periods of volatility can be expected.
Peter Hewitt, investment Manager of F&C Managed Portfolio Trust repeats the saying that bull markets for equities “climb a wall of worry” and believes that has been the case over the past couple of years, with all sorts of uncertainties, especially of the political kind, being manifest.
The investment managers of Ruffer are worried about the outlook for markets and Kun Deng, manager of Lazard World Trust Fund begins his commentary by stating his belief that the global investment environment will be more volatile.
QuotedData’s Economic round up – August 2018