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Market Commentary

Philip Rose

1 January 2020

2020 was a year of rolling change. At the start of January, investor sentiment was positive and 2019 had been far stronger for investment returns than originally expected. Trade talk rhetoric between the USA and China was abating and an election year loomed in the USA. Often election years are characterised by voter friendly legislation as the incumbent President attempts to generate a feel-good factor as a precursor to reelection.

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Market Commentary

Philip Rose

1 December 2020

2020 will not be remembered as a dull year for investment markets. As the year draws to a close let us reflect briefly on some of the stats. On six individual months, the US equity market experienced excessive volatility with an increase or drawdown in excess of 5%.

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Market Commentary

Philip Rose

1 September 2020

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Concerns over valuations and disappointing economic data were
overlooked as ‘FOMO’ gripped markets – it is becoming challenging to buy certain stocks as stretched technicals and narrowing market breadth point to another period of complacency.

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Market Commentary

Philip Rose

1 August 2020

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July has seen a continuation of the recovery in equity markets. The US equity market increased +5.64% in July and Europe declined -0.87%. Our global equity strategy again produced attractive returns, appreciating +5.52% during the month. The key to successful investing in 2020 has been avoiding those companies impacted by the current economic turmoil caused by Covid-19.

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Market Commentary

Philip Rose

27 March 2020

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This week’s commentary will focus on Bonds, Bond yields, the drivers for bond pricing and the impact of COVID-19 on
this market.

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Market Commentary

Philip Rose

13 March 2020

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2019 was a surprisingly strong year for both equity and bond investors and a measure of complacency entered markets. This was evidenced between October 2019 and February 2020 when equity market volatility declined despite global equity markets rising by ~13.5% to new all-time highs.

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Market Commentary

Philip Rose

1 May 2020