One of the challenges with writing these is not so much finding something to write about, it’s that there is so much I could write about! I know what excites.
Read moreMoney Musings 28/09/2023
Accountability. That’s a big word, really. One that’s not always easy to face, but one that we all must, at points in our lives. I believe doing the right thing comes to the heart of everything a person should do. And the right thing isn’t always the easiest thing, or the most obvious thing. Or the thing everyone would like. But you know that, just as well as I do. Do we think those at the top know that? You know who I’m talking about. Having the courage to look after the needs of the many, even if that means upsetting the few, upsetting possibly even people you like, is no small task. But do the right thing. And maybe you’ll fluff it up now and again. And that’s ok. But you make it right, right? And take your lumps when you get them. The choices we make can have very real ripple effect that can impact all of us. For example…
Economically speaking, it’s been an interesting time recently. For the first time in nearly 24 months, the Bank of England has held interest rates at 5.25% (the vote went 5-4 in favour of holding, in case you’re interested). The UKs private sector activity has declined sharply this month. But the challenge facing the UK is the global uncertainty over the government’s fiscal plans given we’re heading into an election year. There is a feeling among the markets that businesses are cautious to invest in the UK whilst they watch to see how this election pans out. We need our leaders, both actual and potential, to be clear about their plans and accountable for their actions. We need them, in short, to lead.
Having said all of that, the FTSE 100 managed to open flat despite these global concerns. The US continues to skirt a recession but hasn’t quite fallen into one yet. The US stock market has made some gains. And if there is a recession, there does seem to be a general feeling that it will not look like ones we’ve experienced in the past. One commentator I have read said “This is not your grandfather’s definition of recession”.
I believe the global economy has changed drastically over the last 18 months / 2 years and the nature of how we navigate them will never go back to what it was before. I’ve been talking about cautious optimism for so long now, but I don’t see that changing any time soon. Straight Talk is not a stagnant business, we adapt when its right to do so to move with the changing world.
So, to the markets
30.12.2022 | 22.09.2023 | % Change on year | % Change on week | |||
FTSE 100 | 7451 | 7683 | Up 3.11 | Down 0.36 | ||
Dow Jones | 33147 | 33963 | Up 2.46 | Down 1.89 | ||
Nasdaq | 10466 | 13211 | Up 26.23 | Down 3.62 | ||
S&P | 3839 | 4320 | Up 12.53 | Down 2.93 | ||
TOPIX | 1891 | 2376 | Up 25.65 | Down 2.15 | ||
Hang Seng | 19781 | 18057 | Down 8.72 | Down 0.69 | ||
Shanghai | 3089 | 3132 | Up 1.39 | Up 0.47 | ||
CAC 40 | 6473 | 7184 | Up 10.98 | Down 2.63 | ||
DAX | 13923 | 15557 | Up 11.74 | Down 2.12 |
Not all of its bleak out there. Sometimes we hear good things in the press. Ok, not often. But sometimes. For example, news came in the press recently that the.
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