June Market Commentary

Introduction May was a relatively quiet month, virtually nothing of any importance happened at all. Well, apart from the European elections, Theresa May’s decision to stand down and the re-escalation of the US/China trade war. Not content with that, Donald Trump imposed tariffs on Mexico and Angela Merkel decided that her potential successor wasn’t up…

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May Market Commentary

Introduction First the good news. None of the leading world stock markets on which we report in this Bulletin fell in April.  With just one exception – China – all the markets made gains, with the German DAX index leading the way. Generally the world breathed a sigh of relief as relations between the US…

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April Market Commentary

Introduction We have commented before on the difficulty of ‘hitting a moving target.’ Sometimes in writing this market commentary you run the risk of what you write being overtaken by events, and that has never been more true than this month. In the short time between us publishing notes and you reading them it is…

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March Market Commentary

Introduction February was another month when all the important news seemed to happen in the last week of the month. President Trump delivered the annual State of the Union address on February 6th and announced a second meeting with North Korea’s Kim Jong-un. The two duly met up in North Korea three weeks later, only…

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February Market Commentary

The story of the US/China trade dispute was a thread running through much of last year. Some progress was made in resolving the dispute at December’s G20 summit and that appeared to continue in January with China saying it is ‘ready to work’ with the US. Donald Trump confirmed this, describing a telephone conversation with…

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