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

4 July 2022

More than two years since the COVID virus hit Europe, it is clear that most peoples’ livelihoods have been affected more by the policy ‘medicine’ than the virus itself. Of course, without those interventions which were needed until vaccinations become prevalent, it most likely would have been the other way around. As we start the second half of 2022, the excess monetary liquidity now draining from markets – the unavoidable consequence of those pandemic-fighting measures – is hitting the global real economy and thus lowered market valuations.

It also must be acknowledged that more than one threat has presented itself this year. If the world was merely facing the consequences of natural disaster such as the virus, we would probably be heading towards normality by now. As we enter the second half of 2022, the energy price crisis caused by Russia’s geopolitical provocations has likely turned into the biggest problem now. Russia’s invasion of Ukraine is the most obvious aspect. For Europe, the impact is felt most clearly through the disruption to our energy markets.

The chart below shows how this coming winter’s anticipated electricity prices for the US, Europe and UK compare. In 2019, across the western nations, energy (electricity, heating and petrol) was  around 6% of household expenditure, similar for service businesses, and about 12% for manufacturing (US Bureau of Labor Statistics Consumer Expenditure Survey, ONS, Eurostat).



The past 12-month average for Germany has been about €180/MWh. Looking beyond the winter, Germany’s electricity contract price for the whole of 2023 is at €290/MWh, and 2024 is at €190/MWh. Europe’s dilemma is clear. Russia’s hold on the price of energy appears significant and while those effects can be mitigated in the long-term, they are difficult to avoid in the near or even medium-term.

This places considerable pressure on businesses and their profit margins. It also means that sales revenues are likely to suffer as consumers fret over their household budgets as the extra expenses diminish their savings. We write more about these effects on business lending through credit markets in an article below.

Although admittedly less than in Europe, US businesses and households are also under price pressures, as demonstrated by the latest personal consumption expenditure data. Consumers increased dollar spending in May versus April by just 0.2% and bought less goods. Inflation adjusted (real) expenditure dropped by about 0.4%.

If businesses are not selling as much they will be forced to hold back costs. Capital investment will be put on hold and only essential hiring will take place. 

Markets already sense the slowing of growth is upon us, and it is being reflected in government bond yields. The ten-year US Treasury yield has moved back down to 2.90%, having traded briefly at 3.50% about two weeks ago. 

This move has been matched by the fall in the German ten-year Bund from 1.90% to below 1.30%, and the UK ten-year Gilt from 2.73% to 2.13%. Although 0.6% may not sound a big number, in the context of today’s bond markets it constitutes a substantial move.

And, as we mentioned last week, markets have shifted inflation expectations lower by about 0.3-0.4%. Rising energy costs would usually be associated with rises in inflation expectations. However, we are now observing a big shift – energy cost rises are having the same impact on markets as rising taxes.

Nevertheless, the rhetoric coming from this week’s big central bank get-together in Portugal remained resolutely hawkish. But markets are already sensing that inflation-boosting growth is in the process of slowing quickly enough now to warrant a softening in central bank guidance towards the autumn. As for the other crucial inflation variable – tight labour markets – there are early signs of subsiding employment demand across western nations. When those are reasonably clear, central bankers may tell us they have succeeded in preventing supply chain disruptions and the energy price shock from mutating into a vicious cycle of 1970’s style structural inflation.

We expect that the European Central Bank (ECB) will still want to raise rates this month – there were several speakers at the Portugal meeting suggesting a 0.5% repo rate rise – and they may well keep going from there. Interestingly, however, these rate increases will happen while the ECB continues to purchase assets. What it takes with one hand, it gives with the other, and that rather incongruous policy is helping to hold back rising credit spreads in the weaker peripheral nations.

Still, the negative effects of the energy war Russia is waging on Europe may be softened somewhat for the weakest nations by such monetary policy moves. However, while European governments may want to turn on the fiscal taps to help households and businesses, the policy effectively channels money into Russia’s war-chest, unless there is also an increase in energy supply from elsewhere.

This places the onus on fast expansion of tanker capacity to the US and others, and on building better political relationships the Middle East and North Africa. Across the globe, there are major initiatives to secure new partnerships, coalitions, alliances, call them what you will. Maybe, for the UK and the EU, it will also provide an incentive to bury the hatchet and return to a more pragmatic relationship model.

As always, we know that challenges usually drive change as well. Indeed, we write below about how China seems to be heading out of its recent trough. We know as well that risk also tends to mean greater potential returns. As we enter the second half of 2022, market participants are certainly downbeat, reflected in lower price-to-earnings multiples and higher credit spreads. A resolution of the conflict with Russia is very unlikely anytime soon, but securing other energy supplies is possible. If and when that happens, the headwinds blowing against the global economy should slacken considerably. 
 

News Archive

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?