Institutional Asset Management News and Insights
Market Update 14 April 2025
The past week has seen yet more swings in financial markets, following Trump's announcement to postpone most reciprocal tariffs, while simultaneously increasing tariffs on Chinese imports. After an initial rally in equity markets post Trump’s announcement, equity...
Market Perspectives April 2025
The outlook for interest rates Bond yields around the world are diverging. Looking at the returns from bond markets over the last three months (+0.5% from gilts, and +1.5% from the global market broadly, in sterling terms), one could be forgiven for thinking it was an...
London & Capital and Waverton Investment Management unite as W1M as the firm pursues ambitious growth beyond £21 billion AUM milestone
Following the merger of London & Capital (“L&C”) and Waverton Investment Management (“Waverton”) in July 2024, the company announces today that it will be consolidating its brands under a new name, W1M. The launch of W1M signals the coming together of two...
Global Outlook – March 2025
The key charts we are watching to drive our top-down views. This document shows the charts that we think are particularly useful to help us determine where we are in the economic cycle and what the outlook is for markets. The topics covered are as follows: Summary of...
Global Outlook – February 2025
The key charts we are watching to drive our top-down views. This document shows the charts that we think are particularly useful to help us determine where we are in the economic cycle and what the outlook is for markets. The topics covered are as follows: Summary of...
Global Outlook – January 2025
The key charts we are watching to drive our top-down views. This document shows the charts that we think are particularly useful to help us determine where we are in the economic cycle and what the outlook is for markets. The topics covered are as follows: Summary of...
Market Perspectives January 2025
The outlook for interest rates Bond yields have risen markedly. Given that the economic and political prospects in the UK and the US have diverged so markedly in the last three months, it is perhaps surprising that 10-year gilt and US treasury yields have ended the...
Central banks starting to pivot to navigate economic challenges
In line with our views at the start of the year, the shift towards lower interest rates has begun. The Fed has stepped up with a larger rate cut than originally expected and seems determined to ensure that the US manages to have a soft landing. This may put pressure...
Major economies facing shift towards disinflation
Global disinflationary forces have continued to take hold across all economies, with goods inflation and service sector prices implying lower overall price pressures into the first half of 2025. The impact of Chinese deflation should also be kept to the fore. Below...
Mixed growth outlook for global economic landscape
US economic momentum has continued to ease but is still consistent with a soft landing, with the Q3 Atlanta Fed GDPNow projection at 3.2%. However, the Federal Reserve (Fed) has implied that the economy is now growing below potential, with Jay Powell (the Chair of the...
Outlook Post Trump Victory
The extent of the victory by former President Trump was not expected but financial markets have been discounting a Trump victory since the end of September. Some of the rise in US 10-year bond yields last month (from 3.79% to 4.28%) were a reflection of that trend....
ANDPAPERS Q4 2024 | The Fed underwrites a US soft landing
After a robust first half of the year, risk markets experienced heightened volatility in the third quarter. In part, this could have been due to the lingering disconnect between risk markets and economic growth trends in the West: markets are pricing in a soft...