Monday Musings - Have you figured out what to give up when you retire? Research shows that to “enjoy” a pretty basic standard of living when you retire you would.Read more
Political unrest in Catalonia meant that she who must be obeyed, and I did not make it to her home town last week and political unrest here meant that not a lot happened here either, although Boris did get one win. It was much wetter in Catalonia although I think that the crocodile tears across the in the mother of parliaments nearly matched the storms over there.
I read Irwin Stelzer’s column in the Sunday Times today, and there he was banging on about “uncertainty” which as my regular readers will know is one of the things that I regularly talk about. He writes about the USA and refers to uncertainty as the Kryptonite that deprives policy makers of their powers, he quotes the economist Maynard Keynes who said that uncertainty exists when all possible outcomes of a decision cannot be known. I wish that I could share the whole article, but I don’t have the space. In simple terms he is saying that the Trumpers twitter finger creates unknowns for not just the USA but the rest of the world as well.
As you will know we took some action and changed our Property holdings to Infrastructure holdings at the end of the quarter. This move has been further supported by Bon Marche going into administration last week which will of course put further pressure on the sector. One of the European funds we own from the M&G stable is changing its mandate in so I will be looking for a replacement fund this week. On the topic of Europe in spite of the uncertainty caused by the B word and Senor Trumps tariff moves there are still some good companies producing some attractive opportunities. I am looking at about half a dozen funds and will write to you with my recommendations during the coming week.
Other than the Hang Seng all the main markets had a positive week, with the Nasdaq up nearly two percent closely by the Nikkei at 1.37%.
Market movements of the week
FTSE 100 up 2.43%
DOW JONES up 0.70%
NASDAQ up 1.89%
S&P 500 up 1.21%
NIKKEI up 1.37%
HANG SENG down 0.20%
SHANGHAI up 0.57%
CAC 40 up 1.52%
DAX up 2.07