Like January, February was a game of two halves with the mid-point acting as a tipping point for risk assets. ‘Game’ also took on a new meaning amidst the gamification of the stock market.
‘Reflationists’ fear that as restrictions on movement are lifted, a surge of demand will create inflation. This inflation fear, along with increased government bond supply, has caused government bond yields to rise sharply in 2021.
Focus on maintaining easy monetary policy through low interest rates and quantitative easing by the US Federal Reserve and Bank of England has helped asset prices, especially in equity markets.
The final week of January saw financial market headlines dominated by the trading activities of online community traders.
Our aim is to buy into robust demand themes over the long-term where earnings are more sustainable than in low-margin, capital and labour-intensive businesses.
At the start of each year, there are a set of forecasts, key events and dates to watch out for – an almanac.
Since the end of the first quarter of 2020, economic pundits have been debating which letter best reflects the shape of the economic recovery path from the lows of the March to May period.
On Sunday, December 13th, the T. Bailey Growth Fund celebrated its 21st anniversary. While thematic investing has become more mainstream this year, the Growth Fund has adopted this approach since its inception.
What a month?! The nervousness over Covid-19’s second wave and the US Presidential Election pushed Brexit withdrawal onto the back burner at the start of November.
If you’re a passive investor, you are probably hooked up to a market capitalisation weighted index so you don’t have to have a view, you are about to own it.
In a year when the word ‘unprecedented’ has been used an unprecedented number of times, the first half of November was full of volatility-inducing news.
The first half of the month saw a gradual appreciation of risk assets before a mid-month realisation reversed gains made in most markets and prices of those assets fell in the second half of October.
I write this on Brexit deadline day and those, including the consensus, looking for an eleventh-hour agreement with the EU are set to be disappointed.
Over the six-month period to end-September 2020 the T. Bailey Growth Fund rose by 33.34% net of all ongoing charges and the T. Bailey Dynamic Fund rose by 19.32% net of all ongoing charges.
The market volatility seen in August continued at a greater pace in September with a focus on the technology sector and the big US ‘tech’ firms.
