There are 146 item(s) tagged with the keyword "Royal London Asset Management".
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UK Budget speculation continued to bubble away last week, with increased focus on employers’ National Insurance and Inheritance Tax.
It has not been a good week for UK infrastructure. EDF’s Hinkley Point nuclear plant needs more money, a middle eastern investor has written off its equity stake in Thames Water and the HS2 saga continues to astound.
The US economy continues to confound the sceptics. Last week’s employment data showed upside surprises across the board.
US exceptionalism is a phrased used to explain why the US is different from other economies. The dynamism, reflected in growth rates, innovation, trend setting, music, cinema etc sets the US apart.
Having returned from a short cycling holiday in Dorset I can confirm that the countryside is beautiful and lush – probably due to the high incidence of rain in September, if my experience is typical.
The idea of operational gearing is one which is reasonably well understood, but powerful, nonetheless. Incremental changes in sales once you have covered a business’s fixed costs drop through to profits dramatically. It is however very much a double-edged sword – if sales fall and the cost base doesn’t then you see any sales reduction magnified in its impact on a company’s profitability.
The size of global fixed income is frightening, even larger than global equity markets. This poses significant challenges for asset managers that offer global strategies.
Last week’s data was reassuring, indicating that economic activity is not poised to stumble. In the US, the composite Purchasing Managers' Index (PMI) came in at 54.1 and is consistent with a decent pace of growth.
Step back two weeks. World equity markets were in turmoil, led by Japanese and US tech shares. There were calls for an immediate cut in Fed Funds, with an emergency 50bps reduction being mooted.
When mainstream national newspapers start writing about the yen carry trade you know its impacting mortgage rates, shares and pensions – the stuff most people care about. So it was last week.
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