Latest News from Tatton Investment Management: Reading the runes of this week's market bounce

7 October 2022

Market volatility has been in the air all year and given the macroeconomic backdrop this is not at all surprising. A weakening global economy marred by war and labour market-driven supply squeezes, while simultaneously trying to cope with aggressive central bank rate hiking to prevent inflation turning permanent, all makes for the distinct whiff of recession. But volatile markets do not always swipe down, as the beginning of this week showed, nor do they stay volatile forever. Monday and Tuesday saw a formidable ‘relief’ rally in global equities. Indeed, on Tuesday, US stocks recorded their biggest daily gain since 2020, leaving the S&P 500 up 5% by midweek. 

The rally did not extend greatly, and the relief felt slight. Stocks slid back toward the end of the week, but not by the same margin. And neither did they collapse after – on the face of it – very disappointing news of OPEC+ oil supply cuts. Indeed, the week has felt like a microcosm of how the year has gone so far: down-trending capital markets, ricocheting between yield rise-driven recession fear and bear market rallies when hope takes hold that inflation is turning over.

As a result, bond yields have been rising steadily, driving down bond and equity valuations throughout this year. That means the expected rate of return for being invested in them has risen – good news in some sense. However, the volatility in the process – read increased uncertainty – makes the higher expected return seem less attractive in the near term. But when markets appear to calm down, when the volatility decreases, those higher expected returns begin to look more attractive. 

This week’s toning down of actual and expected volatility has therefore helped sentiment, even if it is definitely too early to call it a trend. The chart below shows the track of equity (brown) and currency volatility (blue):



As the chart illustrates, currency volatility has coincided with the year’s downtrend and so the US dollar’s partial retreat against most currencies this week was another driver of marginally improved investor risk appetite. Why? Because the exceptional economic strength of the US – and its relative insulation from the rest of the world’s travails – has been a driver of dollar strength and, historically, a strong dollar has coincided with weaker global trade. 

There is much debate about whether a strong dollar causes weaker global growth, or is merely a sign of weak growth beyond the shores of the US economy. But there is no doubt that, while the rest of the world languishes, a US central bank (Federal Reserve/Fed) purely focused on domestic inflation pressures does not help the global economy. Indeed, Janet Yellen, US Treasury Secretary (and former Fed Chair) sounded a warning bell on Thursday, speaking at a central banker symposium:

“Policymakers in the major economies must continue implementing policies to rein in high inflation while remaining attentive to global repercussions [our emphasis]. Clear and open communications, coupled with cooperation among the major economies to address spillovers, remain essential.”

She may have been addressing the audience of central bankers, but everyone knows she was really addressing the Fed. So, as we wrote last week, a bit less of “I’m alright Jack” from the US is likely to help global capital markets, and Yellen’s influential comments suggest the US is not totally unaware of its impact on global financial conditions.

Back to this week’s market action, Monday and Tuesday's market optimism came from bad economic news of weak US employment data, which might seem perverse. Job openings in the world’s largest economy fell by more than one million in August, the largest fall since the start of the pandemic. But, with the Fed still intent on crushing inflationary pressure by cooling wages, bad news is good news as far as investors are concerned. The hope is that rising unemployment will give the Fed license to ease its grip, bringing the fabled ‘peak interest rates’ forward and setting the stage for looser financial conditions next year as the Fed pivots away from raising rates further. The JOLTS (Job Openings and Labour Turnover Survey) data thereby jolted markets upwards.

Up stepped the world’s oil barons to dash such hopes. On Wednesday, OPEC+ agreed to cut production targets by 2 million barrels per day from November. As well as reducing crude supply, and thereby squeezing fuel prices even higher, the apparent unity shown by de facto leaders Russia (the ‘+’ in OPEC+) and Saudi Arabia puts the latter on a political collision course with the US. 

As we write in a separate article this week, the apparent ‘betrayal’ probably has more to do with oil producers’ inability to even meet existing targets and weak demand, than Russia’s desire to exert influence, or the Saudis’ willingness to help it. Reduced oil supply is an unwelcome headwind nonetheless, and one that is likely to hurt the US economy more than others – given its sensitivity to gasoline prices. Traders seemed to agree, punishing American stocks more than British or European counterparts.

On this side of the Atlantic, natural gas is a much bigger concern than oil. Europe’s energy crisis is probably the major global economic concern as we head into a harsh winter. Interestingly, gas prices have actually been on a steady downfall recently – which has gone entirely unremarked by European equity markets. At the same time, governments across Europe have unveiled enormous spending plans to protect businesses and consumers against the worst energy price spikes.     

Germany’s massive €200 billion support programme announced last week is the headline act in this line-up. Despite being debt-funded and amounting to a substantial loosening of fiscal policy, bond markets have not punished German bunds for the apparent laxity with public money. This is in sharp contrast to the UK’s experience over the last couple of weeks. We discuss what this means for Eurozone debt dynamics in a separate article below.

As for the UK market itself, this week offered some respite – though not much. Gilt yields dropped back below 4% (they had touched 5% before the Bank of England (BoE) intervention the previous week) in tandem with the early equity rally. Sterling also recovered, reaching the $1.14 level it held before Chancellor Kwasi Kwarteng’s not-so-mini-budget two weeks ago. Midweek jitters reversed these trends though, with yields rising and sterling falling into the weekend. Thankfully, these falls were not as severe as the chaos wrought in the last fortnight. 

Interventions from the government and (especially) the BoE have stopped the bleeding, although it would be a stretch to say UK assets are in good health. Britain’s current account deficit (money flowing in minus money flowing out) makes our economy and financial system largely dependent on the will of foreign capital. In that respect, it is at least heartening to see – as the bond and currency recovery showed – that overseas investors have not yet lost all trust.

Liz Truss’ fledgling government has actually had a better week, at least in the eyes of some investors, if not among her own Tory MPs. The near-chaos at the Conservative conference – replete with rebellions, U-turns and accusations of a “coup” – passed by with the Prime Minister finishing with an appeal to optimism, albeit with little in her speech to tell us why. Yet, the conference drama coincided with the rebound in gilts and sterling, suggesting markets are not too concerned with the situation. 

Perhaps this could be down to Conservative MPs’ successful lobbying on the 45% top rate of tax. The government appears to have little ability to force an unpopular radical agenda in the face of opposition from its parliamentary party. Truss’ backtracking came quickly after repeated insistence she was not for turning. Markets might be inclined to think that this government is paralysed from making any sweeping changes – and markets tend to prefer the absence of surprises.

However, many UK exporting companies will be cheering at signs of rapprochement with Europe. The Times trailed a series of bilateral compromises over the Northern Ireland Protocol, including an extremely important acceptance of (some) jurisdiction for the European Court of Justice. And then, in Prague, a genuine warming of relations with French President Emmanuel Macron (perhaps the most influential of European leaders) sharply improved the sense that we may be moving beyond break-up to make-up.

It will still take time, but this raises the prospect of some freeing-up of access to Europe’s markets. It also may speed up stalled trade negotiations with the US. Given the strength of the dollar, making UK goods and services highly price competitive, improved access to US markets is vital. 

Betting markets still imply a 50/50 chance of Truss leaving office before 2024 and the next General Election. Nevertheless, it will be difficult for the Conservatives to row back from a more pro-Europe stance if a warmer relationship brings economic benefits.

Day-to-day politics does not usually have much impact on asset prices, but last week’s chaos showed when it does, it can be to devastating effect. If the new government is as market-oriented as it claims, and is prepared to be responsive to the warnings it sends, then investors will give a little cheer.
 

News Archive

25 November 2022

Latest News from Tatton Investment Management: Markets give thanks

18 November 2022

Latest News from Tatton Investment Management: Plugging the holes

11 November 2022

Latest News from Tatton Investment Management: Signs of peak inflation emboldens markets

4 November 2022

Latest News from Tatton Investment Management: Diverging paths accompanied by seasonally scary messa

28 October 2022

Latest News from Tatton Investment Management: US slows, Europes winter outlook improves, UK back t

21 October 2022

Latest News from Tatton Investment Management: The UK and beyond

14 October 2022

Latest News from Tatton Investment Management: Change in the air

7 October 2022

Latest News from Tatton Investment Management: Reading the runes of this week's market bounce

30 September 2022

News from Tatton Investment Management: Loss of trust

23 September 2022

News from Tatton Investment Management: Competing policy measures leave markets worried

16 September 2022

News from Tatton Investment Management: The Fed at work and China snubs Putin

2 September 2022

News from Tatton Investment Management: Waiting for policy action

26 August 2022

News from Tatton Investment Management: Delicate equilibrium

19 August 2022

News from Tatton Investment Management: Will a new PM be good news for investors?

12 August 2022

News from Tatton Investment Management: Fear of missing out

5 August 2022

News from Tatton Investment Management: Markets bet on a perfect landing

29 July 2022

News from Tatton Investment Management: Positive returns amidst negative sentiment

22 July 2022

News from Tatton Investment Management: Economy weakens but central banks persevere

15 July 2022

News from Tatton Investment Management: Too hot, too cold

8 July 2022

News from Tatton Investment Management: Markets not reflecting public fear

4 July 2022

News from Tatton Investment Management: Energy price shock turns into central bank focal point

24 June 2022

News from Tatton Investment Management: Public sentiment vs economic realities

17 June 2022

News from Tatton Investment Management: Linchpin oil price

10 June 2022

News from Tatton Investment Management: Reading between the lines

3 June 2022

News from Tatton Investment Management: Rollercoaster for the Jubilee funfair

27 May 2022

News from Tatton Investment Management: As recession talk subsides, inflation pressures increase

23 May 2022

News from Tatton Investment Management: Talking recession to fight inflation

13 May 2022

News from Tatton Investment Management: Bear market fear as another tech bubble deflates

9 May 2022

News from Tatton Investment Management: Market noise is almost deafening

29 April 2022

News from Tatton Investment Management: Range bound markets - despite the drama

22 April 2022

News from Tatton Investment Management: Finely balanced

14 April 2022

News from Tatton Investment Management: Easter review and outlook

8 April 2022

News from Tatton Investment Management: Q2 begins with QT top of the agenda

1 April 2022

News from Tatton Investment Management: A week of relative calm - and no April fool

25 March 2022

News from Tatton Investment Management: Better news is not always good news

22 March 2022

News from Tatton Investment Management: Changing tides

11 March 2022

News from Tatton Investment Management: Positioning for the energy price shock

4 March 2022

News from Tatton Investment Management: A double edged sword

25 February 2022

News from Tatton Investment Management: Back to the past

18 February 2022

News from Tatton Investment Management: Investors anxious for storms to blow over

11 February 2022

News from Tatton Investment Management: Investment climate change

4 February 2022

News from Tatton Investment Management: The Lagarde pivot hits insecure markets

28 January 2022

News from Tatton Investment Management: Taper Tantrum 2.0 fears rattle markets

21 January 2022

News from Tatton Investment Management: A bumpy road to somewhere

14 January 2022

News from Tatton Investment Management: Markets caught between hoping and dreading

10 January 2022

News from Tatton Investment Management: January dj vu

20 December 2021

News from Tatton Investment Management: Christmas tidings of comfort, if not joy

10 December 2021

News from Tatton Investment Management: Plan B or not Plan B? That is the question

3 December 2021

News from Tatton Investment Management: The pre-Christmas quiz that not many want to play

29 November 2021

News from Tatton Investment Management: New COVID variant flattens 'Black Friday' feeling

19 November 2021

News from Tatton Investment Management: Dollar strength and divergence caps a dull week for investor

12 November 2021

News from Tatton Investment Management: Central banks struggle with messaging

5 November 2021

News from Tatton Investment Management: No tantrum over this taper

29 October 2021

News from Tatton Investment Management: Bond markets give central bankers a telling off

22 October 2021

News from Tatton Investment Management: Confused or determined central bankers?

18 October 2021

News from Tatton Investment Management: Have we passed the peak of supply disruption?

8 October 2021

News from Tatton Investment Management: Economy hits an air pocket

1 October 2021

News from Tatton Investment Management: Rising yields are back

24 September 2021

News from Tatton Investment Management: Wall of worry time

17 September 2021

News from Tatton Investment Management: End of the re-opening honeymoon

10 September 2021

News from Tatton Investment Management: Paying for it - major economies ponder their balance sheets

3 September 2021

New article from Tatton Investment Management: Politics and policy sit at the head of the table

27 August 2021

New article from Tatton Investment Management: Fed tapering: the 'how' matters more than 'when'

20 August 2021

New article from Tatton Investment Management: Markets hit a bit of to and fro

16 August 2021

New article from Tatton Investment Management: Climbing the wall of worry - again

11 August 2021

Midas Share Tips: The Daily Mail views onTatton Asset Management

6 August 2021

New article from Tatton Investment Management: Mega techs under the cosh

30 July 2021

New article from Tatton Investment Management: Summer lull as markets go through the motions

23 July 2021

New article from Tatton Investment Management: Markets wake up to living with the virus

16 July 2021

New article from Tatton Investment Management: Earnings vs Delta

12 July 2021

New article from Tatton Investment Management: Don't look down

2 July 2021

New article from Tatton Investment Management:Transition uncertainties

25 June 2021

New article from Tatton Investment Management: Moderating expectations

18 June 2021

New article from Tatton Investment Management: Investors try to make sense of the Feds 'dot-plot'

11 June 2021

New article from Tatton Investment Management: Hazy as Carbis Bay

4 June 2021

New article from Tatton Investment Management: Going up sideways

28 May 2021

New article from Tatton Investment Management: Touch of Goldilocks at the end of May

21 May 2021

New article from Tatton Investment Management: Market resilience in face of Bitcoin crash

14 May 2021

New article from Tatton Investment Management: Market vertigo galore

10 May 2021

New article from Tatton Investment Management: Sell in May and go away?

30 April 2021

New article from Tatton Investment Management: Doubling of earnings leaves markets cold

23 April 2021

New article from Tatton Investment Management: 'Risk on' pauses while the real world keeps accelerat

19 April 2021

New article from Tatton Investment Management: New bond news gives green light for equity investors

9 April 2021

New article from Tatton Investment Management: Bond markets signal economic optimism

1 April 2021

New article from Tatton Investment Management: The first quarter of 2021 was no April fool

26 March 2021

New article from Tatton Investment Management: The world is moving on from the pandemic

19 March 2021

New article from Tatton Investment Management: Tug of war - bonds vs. equities

12 March 2021

New article from Tatton Investment Management: Recalibrations

5 March 2021

New article from Tatton Investment Management: Stock markets find they cannot have it both ways

26 February 2021

New article from Tatton Investment Management: Earnings look set to stabilise wobbling markets

19 February 2021

New article from Tatton Investment Management: One year on - who would have thought

12 February 2021

New article from Tatton Investment Management: No UK double dip, but much talk of bubbles

5 February 2021

New article from Tatton Investment Management: Calming of nerves

1 February 2021

New article from Tatton Investment Management: A fraying of nerves

25 January 2021

New article from Tatton Investment Management: A sigh of relief

15 January 2021

New article from Tatton Investment Management: Fiscal turbo replaces lame duck Trump

8 January 2021

New article from Tatton Investment Management: End points and new beginnings

18 December 2020

New article from Tatton Investment Management: Goodbye to all that

14 December 2020

New article from Tatton Investment Management: Outlook 2021 - no deal Brexit?

4 December 2020

New article from Tatton Investment Management: December concerns over baubles and bubbles

27 November 2020

New article from Tatton Investment Management: Fiscal floundering

20 November 2020

New article from Tatton Investment Management: More tunnel before the light

18 November 2020

Interim Results For The Six Month Period Ended 30 September 2020

13 November 2020

New article from Tatton Investment Management: Change is in the air

6 November 2020

New article from Tatton Investment Management: Looking beyond the obvious

4 November 2020

New article from Tatton Investment Management: US Election Update

2 November 2020

New video from Tatton Investment Management: US election, the response to the pandemic and Brexit

30 October 2020

New article from Tatton Investment Management: Unsettled week ahead - or behind

26 October 2020

New article from Tatton Investment Management: Sunlit uplands or COVID gorge?

19 October 2020

New article from Tatton Investment Management: Watching and waiting

12 October 2020

New article from Tatton Investment Management: Baffling market optimism

2 October 2020

New article from Tatton Investment Management: A question of time horizons

25 September 2020

New article from Tatton Investment Management: A recovery on hold

18 September 2020

New article from Tatton Investment Management: Taking a step back to look forward

14 September 2020

New article from Tatton Investment Management: Frictions and contradictions

7 September 2020

New article from Tatton Investment Management: Market dynamic of a K-shaped recovery

1 September 2020

New article from Tatton Investment Management: Big tech gets bigger while the Fed takes the easy opt

24 August 2020

New article from Tatton Investment Management: Fed leaves bond investors with that sinking feeling

17 August 2020

New article from Tatton Investment Management: COVID II the sequel - as scary as the original?

10 August 2020

New article from Tatton Investment Management: July brings consolidation

2 August 2020

New article from Tatton Investment Management: Sunshine and shadows

27 July 2020

New article from Tatton Investment Management: PPE = Politics, Pressure and Economics

20 July 2020

New article from Tatton Investment Management: Discomfort of disappearing safety nets

13 July 2020

New article from Tatton Investment Management: Fast and freewheeling

3 July 2020

New article from Tatton Investment Management: H1 2020 offers meaningful lessons

29 June 2020

New article from Tatton Investment Management: Support balances increasing strains - for how long?

22 June 2020

New article from Tatton Investment Management: Equity valuations follow bond valuations' lead

15 June 2020

New article from Tatton Investment Management: Stock markets suffer altitude sickness

8 June 2020

New article from Tatton Investment Management: Markets are enjoying an uncomfortably benign pandemic

1 June 2020

New article from Tatton Investment Management: Optimistic markets despite second wave lockdown threa

26 May 2020

New article from Tatton Investment Management: Just as the sun comes out, clouds appear in the East

22 May 2020

New video from Tatton Investment Management

18 May 2020

New article from Tatton Investment Management: Us-China cold war: Threat or blessing?

11 May 2020

New article from Tatton Investment Management: Most welcome, if feeble, signs of pulling together

4 May 2020

New article from Tatton Investment Management: Opening-up will be slower than locking down

27 April 2020

New article from Tatton Investment Management: V or U-shaped recovery scenarios - the jury is out

20 April 2020

New article from Tatton Investment Management: Lifting lockdown remains a delicate balancing act

20 April 2020

New video from Tatton Investment Management: Stock markets between hope and despair

15 April 2020

New video from Tatton Investment Management: Is now the time to invest?

13 April 2020

New article from Tatton Investment Management: Fading threat of financial crisis re-opens old divide

6 April 2020

New article from Tatton Investment Management: Unprecedented quarter or calm before the storm?

30 March 2020

New article from Tatton Investment Management: Extraordinary: bear and bull market all in one

24 March 2020

New video from Tatton Investment Management: Why have stock markets appeared to rally on the lock-do

23 March 2020

New article from Tatton Investment Management: Government ordered recession

19 March 2020

New video from Tatton Investment Management: Confusion reigns in Capital Markets

18 March 2020

New article from Tatton Investment Management: Why aren't you doing something?

17 March 2020

New video from Tatton Investment Management: From euphoric recovery to depressed tumble

16 March 2020

New article from Tatton Investment Management: Notes on a crash: the short, the medium and long term

13 March 2020

New video from Tatton Investment Management: Panic equity selling or panic raising of precautionar

12 March 2020

New article from Tatton Investment Management: Forced sellers and other distractions

9 March 2020

New article from Tatton Investment Management: Dark times or glimpse of light at the end of the tunn

6 March 2020

New article from Tatton Investment Management: News of a reverse oil price shock rattles markets bey

2 March 2020

New article from Tatton Investment Management: Coronavirus - hitting too close to home

28 February 2020

New article from Tatton Investment Management: This week's market correction requires perspective

26 February 2020

New article from Tatton Investment Management: COVID-19 and the reaction of markets to pandemic fear

24 February 2020

New article from Tatton Investment Management: US markets hit new all-time highs and a 'bump'

17 February 2020

New article from Tatton Investment Management: V-shaped recovery for Valentine

10 February 2020

New article from Tatton Investment Management: Markets show no fear - should they?

3 February 2020

New article from Tatton Investment Management: Looking through the noise of the week

27 January 2020

New article from Tatton Investment Management: Short break to Goldilocks?

20 January 2020

New article from Tatton Investment Management: Parallels and differences to January 2018

14 January 2020

Appointment of Joint Broker

13 January 2020

New article from Tatton Investment Management: So far so good

8 January 2020

Tatton: Woodford & M&G suspensions have driven IFAs to us

6 January 2020

New article from Tatton Investment Management: 2020 starts with a Trump card

23 December 2019

New article from Tatton Investment Management: Goodbye 2019 - welcome 2020 and a new decade!

16 December 2019

New article from Tatton Investment Management: Brightening horizons - 2020 Outlook

8 December 2019

New article from Tatton Investment Management: Can Trump derail the 2020 economic upturn?

2 December 2019

New article from Tatton Investment Management: Markets are driving the markets

25 November 2019

New article from Tatton Investment Management: Markets pause for reality check

18 November 2019

New article from Tatton Investment Management: Swilling cash eases the market mood music

11 November 2019

New article from Tatton Investment Management: Recession concerns retreat

11 November 2019

Interim Results for the six months ended 30 September 2019

4 November 2019

New article from Tatton Investment Management: Crucial October period safely behind

28 October 2019

New article from Tatton Investment Management: Slowly turning

21 October 2019

New article from Tatton Investment Management: Brexit breakthrough versus Brexit fatigue

17 October 2019

Trading Statement

17 October 2019

Acquisition of Sinfonia Asset Management Limited (SAM)

14 October 2019

New article from Tatton Investment Management: Market sentiment rebound

7 October 2019

New article from Tatton Investment Management: Stall speed economy fears spreading

30 September 2019

New article from Tatton Investment Management: Ominous US-Dollar strength

23 September 2019

New article from Tatton Investment Management: Diverging economic trends - catalyst for trade war re

16 September 2019

New article from Tatton Investment Management: Market sentiment rebound

9 September 2019

New article from Tatton Investment Management: Choppy water but no storm, yet...

2 September 2019

New article from Tatton Investment Management: Fattening 'tails'

27 August 2019

New article from Tatton Investment Management: Populism politics reversing austerity?

19 August 2019

New article from Tatton Investment Management: Market spat between bond and equity markets

11 August 2019

New article from Tatton Investment Management: Bond markets unnerve equity markets - again

5 August 2019

New article from Tatton Investment Management: The Elephant and the Little Old Lady

29 July 2019

New article from Tatton Investment Management: The quick and the not-so-quick

22 July 2019

New article from Tatton Investment Management: ...'Twere well it were done quickly

15 July 2019

New article from Tatton Investment Management: Positioning for a summer of wait and see

8 July 2019

New article from Tatton Investment Management: Liquidity drives stock markets to new highs

1 July 2019

New article from Tatton Investment Management: The middle of the year - a tipping point?

24 June 2019

New article from Tatton Investment Management: Battle of the ‘doves’

17 June 2019

New article from Tatton Investment Management: Mixed messages

10 June 2019

New article from Tatton Investment Management: The return of the central bank put?

3 June 2019

Appointment by Tenet Group

3 June 2019

Appointment by Frenkel Topping

3 June 2019

Preliminary Results For the year ended 31 March 2019

3 June 2019

New article from Tatton Investment Management: Bond rally musings

27 May 2019

New article from Tatton Investment Management: It is getting warmer

20 May 2019

New article from Tatton Investment Management: Market support for Trump or unwarranted equanimity?

13 May 2019

New article from Tatton Investment Management: Geopolitics re-enter market stage

7 May 2019

New article from Tatton Investment Management: Central banks disappoint expectations

29 April 2019

New article from Tatton Investment Management: Waning market stimuli put stock markets on notice

23 April 2019

New article from Tatton Investment Management: Spring time from here?

16 April 2019

Trading Statement for 12 months ending 31 March 2019

15 April 2019

New article from Tatton Investment Management: Brexit in-limbo aside sentiment is improving

8 April 2019

New article from Tatton Investment Management: Happy 10th birthday, choppy bull market

1 April 2019

New article from Tatton Investment Management:29 March 2019 – quarter end

25 March 2019

New article from Tatton Investment Management: Brinkmanship and extensions

18 March 2019

New article from Tatton Investment Management: Bits & Pieces

11 March 2019

New article from Tatton Investment Management: ECB stimulus U-turn leaves markets unimpressed

4 March 2019

New article from Tatton Investment Management: £-Sterling ‘applauds’ prospect of Brexit delay

25 February 2019

New article from Tatton Investment Management: Progress?

18 February 2019

New article from Tatton Investment Management: Investment perspectives for different Brexit outcomes

15 November 2018

Interim Results for the six months ended 30 September 2018

15 October 2018

New article from Tatton Investment Management: Autopsy of a stock market sell-off

1 October 2018

New article from Tatton Investment Management: Poor politics containing bond market risks?

27 September 2018

New article from Tatton Investment Management: Brexit clamour vs. real market new

7 September 2018

New article from Tatton Investment Management: Interesting times ahead

31 August 2018

New article from Tatton Investment Management: “Not the end of the world”

24 August 2018

New article from Tatton Investment Management: Steady markets vs. noisy politics

17 August 2018

New article from Tatton Investment Management: Political strongman tactics come home to roost

10 August 2018

New article from Tatton Investment Management: Summer heat wave makes way for return of political he

3 August 2018

New article from Tatton Investment Management: A gentle deceleration?

27 July 2018

New article from Tatton Investment Management: Hot air for a hot summer?

20 July 2018

New article from Tatton Investment Management:Earnings are growing, why worry?

13 July 2018

New article from Tatton Investment Management: Hard Brexit demonstration potential?

6 July 2018

Notice of Annual General Meeting

6 July 2018

New article from Tatton Investment Management: It is getting hot

29 June 2018

New article from Tatton Investment Management: Digesting or consolidating?

27 June 2018

Preliminary Results for the year ended 31 March 2018

22 June 2018

New article from Tatton Investment Management: Fragile recovery

15 June 2018

New article from Tatton Investment Management: No surprises

8 June 2018

New article from Tatton Investment Management: Delicate equilibrium

1 June 2018

New article from Tatton Investment Management: Ignore politics at your peril

25 May 2018

New article from Tatton Investment Management: GDPR? No - far more interesting news!

18 May 2018

New article from Tatton Investment Management: What's the economic reality of this week's news?

11 May 2018

New article from Tatton Investment Management: Batten-down-the-hatches?

4 May 2018

New article from Tatton Investment Management: Past the peak?

27 April 2018

New article from Tatton Investment Management: Confusing signals?

20 April 2018

New article from Tatton Investment Management: A mixture of messages

6 April 2018

New article from Tatton Investment Management: Could do better

6 April 2018

New article from Tatton Investment Management: Peaking, plateauing or dimming – and how about that

29 March 2018

New article from Tatton Investment Management: End of a stormy quarter

23 March 2018

New article from Tatton Investment Management: Now we know it's risky!

16 March 2018

New article from Tatton Investment Management: Back to Normal?

9 March 2018

New article from Tatton Investment Management: Tariffs to growth

2 March 2018

New article from Tatton Investment Management: Time to take some profits

23 February 2018

New article from Tatton Investment Management: Change of direction or gradual normalisation?

16 February 2018

New article from Tatton Investment Management: Breathing easier for the moment

9 February 2018

New article from Tatton Investment Management: Meteoric stock markets crash bac

6 February 2018

Tatton Investment Management's Stock Market Correction Assessment

2 February 2018

New article from Tatton Investment Management: Good news turns bad news - again!

26 January 2018

New article from Tatton Investment Management: Surprises

19 January 2018

New article from Tatton Investment Management: US$ weakness versus Bitcoin and Carillion

12 January 2018

New article from Tatton Investment Management: Bullish sentiment rings alarm bells

5 January 2018

New article from Tatton Investment Management: Encouraging kick-off

15 December 2017

New article from Tatton Investment Management: 2017 - taking stock

8 December 2017

New article from Tatton Investment Management: Progress versus Bitcoin

5 December 2017

Interim results for the six months ended 30 September 2017

1 December 2017

New article from Tatton Investment Management: Sudden, but not entirely unexpected

24 November 2017

New article from Tatton Investment Management: Invincible markets?

17 November 2017

New article from Tatton Investment Management: Yield-curve flattening: a bad omen?

10 November 2017

New article from Tatton Investment Management: Nervous investors herald more volatile markets

3 November 2017

New article from Tatton Investment Management: UK rate rise: ‘one and done’ or beginning of rate

27 October 2017

New article from Tatton Investment Management: Trick or treat season

13 October 2017

New article from Tatton Investment Management: All-time highs and Q3 results outlook: Reasons to be

6 October 2017

New article from Tatton Investment Management: Bad news – good news

29 September 2017

New article from Tatton Investment Management: Movements

22 September 2017

New article from Tatton Investment Management: QT to reverse QE and 2-year transition period to soft

15 September 2017

New article from Tatton Investment Management: BoE guides for year-end rate hike - Bluff or real?

8 September 2017

New article from Tatton Investment Management: ‘Back to school’ amidst hurricanes, earthquakes

1 September 2017

New article from Tatton Investment Management: Bad news, Good news

25 August 2017

New article from Tatton Investment Management: Summer low or summer lull?

18 August 2017

New article from Tatton Investment Management: More sellers than buyers

11 August 2017

New article from Tatton Investment Management: Stocks take note of North Korea crisis - or do they?

4 August 2017

New article from Tatton Investment Management: Consolidated base but momentum dwindling

28 July 2017

New article from Tatton Investment Management: Summer thoughts about the ‘longer term’

21 July 2017

New article from Tatton Investment Management: Summer lull - delayed

14 July 2017

New article from Tatton Investment Management: Pre summer-holiday investment check

7 July 2017

New article from Tatton Investment Management: Global growth ploughs on while markets take a breathe

23 June 2017

New article from Tatton Investment Management: Quo Vadis Britain?