Please find below our Investment Market Update as at 28th April 2023.
A different era, same issues!
I love the quote below, which appeared in the New York Times in 1983, a time when inflation had been very high. As inflation peaked and began to weaken, the investment markets were undecided as to how to respond.
“On Wall Street today, news of lower interest rates sent the stock market up, but then the expectation that these rates would be inflationary sent the market down, until that is the realisation set in that lower rates might stimulate the sluggish economy and then the markets went up, before ultimately it went down again on fears that an overheated economy would lead to a reimposition of higher interest rates.”
Apologies, a long sentence, but I think you get the drift. This, in essence, pulls together my rhetoric about good news being bad news and vice versa.
Continues….
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Risk warning
Please Note: This communication should not be read as giving specific advice regarding your personal circumstances. This would only be given following detailed assessment of your individual needs. The value of investments may fall as well as rise; you may get back less than invested. Past performance is not necessarily a guide to future returns.