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30 August 2019 | General

Market participants will need to navigate what might prove to be a treacherous path ahead given the elevated economic and market risks. The US administration’s aggressive trade policy at a time when global growth is slowing has certainly thrown a spanner in the works. This uncertainty may very well cripple business investment as global PMIs continue to roll-over. While US consumer confidence remains robust, if the US administration pushes through the final tranche of tariffs on China’s remaining USD300 billion of US exports, consumer confidence will likely follow the downward trend already seen in PMIs. Furthermore, the breaking down of global supply chains - as result of the tariffs and other restrictions - could lead to tighter corporate profit margins.

Is this market losing its marbles?

28 August 2019 | General

The chart that caught the eye of the Schroders Multi-Asset Investment team this month shows that the relationship between the ISM Manufacturing Purchasing Managers' Index (PMI) and the S&P 500 index has broken down.

Tough times for investors, but there is reason for hope

28 August 2019 | General

Delivering exceptional investment performance in current market conditions is no simple task, given that uncertainty and unemployment remain critically high whilst economic growth, liquidity and interest rates remain stubbornly low.

Local lowflation

27 August 2019 | General

The week ended on a very sour note as markets were shocked by the sudden and unexpected escalation in the trade war between the US and China on Friday evening. However, there was some good news when Stats SA announced that local inflation fell to 4% year-on-year in July. This was down from 4.5% in June and substantially below the Reuters consensus forecast of 4.4%. Core inflation, which excludes volatile fuel and food prices, ticked lower to 4.2%. Inflation is comfortably below the midpoint of the SA Reserve Bank’s 3% to 6% target range.

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