We have been reminded over the last few weeks that whatever happens the world always continues to turn, which means there is always something for us to get our teeth into when it comes to matters of financial investment. So for this recording we talk about the latest on how stubborn underlying inflation continues to…
Will interest rates stay higher for longer? The rise in global bond yields suggests that’s the way investors are leaning. Central banks, having been wholly ignorant of inflationary dangers, now have a serious credibility problem with regard to getting it back under control. Their only remaining policy option is to hike interest rates which is…
Ex the United States, the global economy increasingly looks stuck in a low growth orbit and even the U.S. cannot continue deficit spending 8% of its annual gross domestic product without serious consequences. One may conclude the Federal Reserve’s hiking of interest rates from virtually zero to more than 5%, over an 18 month period,…
It is with huge sadness that we have to inform you that our longstanding friend and business partner, Robert Ash, died on Tuesday 19 September. We shall remember Robert’s charm and wit and he will be sorely missed by all of us at Williams Investment Management LLP. Our thoughts are very much with Robert’s wife,…
The Bank of England (B of E), U.S. Federal Reserve (Fed) and European Central Bank (ECB) all raised benchmark rates by 0.25% in order to tame inflation that remains substantially above target in all three territories. In the B of E’s case, it was the 14th consecutive increase, a damning indictment of its ineptitude by…
In James Cameron’s ‘Titanic’, Jack (Leonardo Di Caprio) perished while Rose (Kate Winslet) survived. However, when Coutts hit an iceberg, the roles were reversed. BBC business hack Simon Jack remains in post while Dame Alison Rose was effectively forced to resign, despite Nat West’s hapless chairman, Sir Howard Davies, expressing initial confidence in her. I…
Federal Reserve (Fed) minutes from its last meeting suggested interest rates were likely to rise further in 2023 although at a slower pace. After 10 consecutive increases, June witnessed a pause in tightening. In the Eurozone, service and manufacturing output weakened while its strongest economy, Germany, entered recession. China continued to send mixed messages but…
I was interested to see Shell’s chief executive, Wael Sawan, not rule out moving group headquarters and main stock market listing to the US. He referred to the warm welcome extended by the New York Stock Exchange (NYSE) at a recent investors’ meeting, illustrated by the Shell flag flying alongside the NYSE flag; “they said…
Was it a surprise the U.S. debt ceiling was raised? Of course not; there was only going to be one ending to this theatrical stand off and Biden was always going to get his money. Of course, the real issue is when will the U.S. (and the Western world in general) get its house in…
Mmmm …… so Bank of England (B of E) governor, Andrew Bailey, admits there are “very big lessons to learn” in setting monetary policy after the B of E failed to a) foresee inflation on the horizon b) did nothing even when it was glaringly obvious problems were brewing c) believed it was all ‘transitory’…