New article from Tatton Investment Management: Encouraging kick-off

5 January 2018

2018 has started on a positive note. Despite widespread fears for capital market upset through the coming into force of MiFID II on January 3rd, all remained calm and equity markets started with a positive week. This latest round of regulatory tightening across the EU’s securities markets, will have some longer-term effects that may only become apparent further down the line. To create some clarity what it might mean for private investors, we have dedicated an article to MiFID this week.

Compared to the start of 2017, many market influencing aspects appear much less uncertain than they did a year ago. Synchronised global economic growth has become sustained and industrial growth hit a multi-year high at the end of 2017. This week’s release of very encouraging business sentiment figures from around the world for December are evidence for this. The political perspective remains somewhat unnerving, but almost one year into the Trump US presidency the world is a lot less unnerved by his tweets as we have learned that he remains more show than achievement.

The button size bragging episode between North Korea’s Rocket Man Kim and US’ Tweet Trump would in the past have seriously increased the temperature of global geopolitical tensions. Now, there is more amusement and some head shaking, while the focus quickly shift to the more significant re-opening of the dialogue lines between North and South Korea.

The focus of commodity markets was on the widespread public protests across Iran, where the Ayatollahs for the first time appeared to fear to be overrun by the same revolutionary dynamics that 40 years ago got themselves into power. The acceleration in oil and other commodity prices was supposedly a result of this new source of uncertainty. We reflect in two separate articles on the changing geopolitical environment and the seeming revival of the commodity price rally. At the moment, we cannot get overly excited about either, although the developments in Iran could lead to a constructive strengthening of moderate, secular forces.

Regarding the recent surge in commodity prices we suspect that nervous equity investors and frustrated hedge fund managers are testing whether they can rekindle broader interest in commodity prices, when equity markets in the US appear maxed out. At this stage of the economic cycle commodities have been a good bet in the past – alas this time, investors have only just digested the bursting of the last commodity price bubble and a repeat so soon therefore seems not very likely.

Even the UK’s Brexit uncertainty millstone has recently begun to lighten up somewhat. December’s movement on the negotiation side has led some to suggest that the country may well be more likely to head towards a ‘Fake Brexit’ rather than a ‘Hard Brexit’. More important however, is that the economic situation in the UK is gradually improving since the turning point last summer. This is despite politics and has a number of reasons, some grounded in the global improvement of demand, some solely to do with the UK domestic consumer and their affection of debt and residential property. As our head of investment Jim Kean argues in the insight article about the UK’s fundamental economic position as we enter 2018, we can reasonably expect the economy to brighten up even in the UK.

News Archive

3 December 2018

New article from Tatton Investment Management: Predicaments


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?