Having been a seismic event in capital markets, we should not be surprised that the pandemic continues to deliver aftershocks. It was the turn of bond markets last week, with gut-wrenching rises in interest rate expectations all around the world. Such was the unstoppable momentum that, at one point, investors were able to observe - in real time - the President of the European Central Bank explaining at length why the ECB would not be raising rates anytime soon while, simultaneously, Eurozone bond yields rocketed into orbit. It was like a visit to the Hall of Mirrors.

Stocks featured:

Amazon, Apple, BBVA, BNP Paribas, Ford Motor Co, Nomura and Volvo Cars

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

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Investors continued to look on the bright side last week but, with persistent inflation becoming an inconvenient truth, it's more the case that every silver lining is now accompanied by a cloud. A new all-time high for the US stock market was only momentarily punctured after the US central bank's Chairman Powell admitted he had been wrong about inflation. "The risks are clearly now to longer and more persistent bottlenecks, and thus to higher inflation" he said and, though he declined to change policy guidance, the change in tone is clear. Bond markets had already arrived at this conclusion, and have been bidding up the prospects for early rate rises for several weeks.

Stocks featured:

Alcoa, Apple, Facebook, Intel Corp and Trump Media & Technology Group

To find out more about the investment management services offered by Walker Crips, please visit our website:

https://www.walkercrips.co.uk/

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

Holding two completely incompatible ideas in your mind at the same time has become essential for investors since the pandemic began. It can’t be a good thing that 4.5 million people have died of Covid worldwide but, at the same time, it’s hard to argue that it’s not good to see global stock market valuations up by $30 trillion over the same period. And while it’s been wonderful for investors to have been bailed out by the actions of governments and central banks, it cannot be good that this expenditure - also about $30 trillion as it happens - was entirely financed by government debt and central banks’ money-printing.

Stocks featured:

Alcoa, Bank of America, Citigroup, Deere & Co, Glencore, Goldman Sachs, Kellogg Co, Microsoft, Morgan Stanley and Virgin Galactic Holdings

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

It was a dismal week for forecasts of economic growth as investors grappled with the new reality that, just as governments are reducing Covid-related support for households, their purchasing power is also being squeezed by the surge in inflation. There is a hint of stagflation in the air, and it doesn’t help that the post- lockdown rebound in consumer spending had already failed to meet expectations.

Stocks featured:

Abbott Laboratories, DiaSorin, Merck & Co, Moderna, Nike, Pfizer, Qiagen and Taiwan Semiconductor Manufaturing

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

The credibility of central bankers took another knock last week, as surging costs in the energy sector not only increased estimates for peak inflation, but also prolonged the peaks themselves. It was always the case that the post-lockdown economic rebound would be accompanied by growing pains, but now the growth impetus is fading and the growing pains are taking centre stage.

Stocks featured:

Daimler, Facebook, Mercedes, Merck & Co, Sunac China Holdings and Tesla

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.

Having wobbled the previous week, equities climbed the proverbial “wall of worry”, shrugging off poor economic data, tighter monetary policy and further Chinese discomfort in order to recapture lost ground. European surveys of business activity disappointed expectations, confirming that the post-lockdown boom is over.

Stocks featured:

Evergrande, Google, Nike, Sunac China Holdings, Tesla, Universal Music Group, Vivendi and Warner Music Group

This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.

Hosted on Acast. See acast.com/privacy for more information.