REMINDER: Last call for pre-registration for the Webinar Thursday 30th November 10am Pre-registration link is here: https://event.on24.com/wcc/r/4415548/1FE19490B28856477CC82CC544A090D0 N.B. The webinar will be recorded, so if you cannot attend but.
Read moreMoney Musings 6/11/23
As I’m sure is the case for you, I’ve been watching the coverage of the Israel – Hamas war with horror. The loss of innocent civilian lives, the impact of actions taken is an unimaginable humanitarian crisis the like of which I am unlikely ever to experience first hand and I am reluctant to appear flippant about. However, within the remit of my work here there is an aspect that deserves discussion and concerns that might appear crass, but are real.
The war could have an impact on the global economy if it spills over into more of the Middle East and elevates already high oil and gas prices. Trade with the Middle East could be impacted as well, of course, but it’s the oil and gas that is the greater concern.
Oil prices have already proved volatile since October 7th, and the World Bank is aware that prices could rise still further. However some, like Bank of England governor Andrew Bailey, do not feel we have yet seen a marked increase in energy prices, which is positive. But the risk will be there going forward. It is worth noting that historically we have not seen this reaction following past escalations of conflict between Israel and Hamas.
Although we should be cautious, consumer confidence as always has a huge part to play in the performance of the markets, so investors will be reluctant to react before there is a need to, and risk worsening any potential issue that may arise.
I don’t know if this is behind Sunak’s announcement of a bill to award licences for oil and gas projects in the North Sea annually. I suspect his motivation lies elsewhere but I’m not sure this is a move that will truly bolster energy security as they claim.
Elsewhere in the world, teach and AI continues to be the hot topic of the moment, with people concerned about the impact of AI on jobs, the US markets largely dependent on the top 7 tech firms for its performance (risky much?), and Elon Musk launching a ‘sarcastic’ competitor to ChatGPT based in The Hitchhikers Guide to the Galaxy, which I love, but are our futures really in the hands of Grok? Get your towels at the ready…
Markets Review – We are in the process of organising a webinar to be presented by both ourselves and 7IM for our clients. You will have the opportunity to hear us speak in greater depth about the current market conditions, what challenges the markets are facing and our current opinion on how they are likely to fare. The date is yet to be confirmed but we are looking at the very end of November / beginning of December. Do let us know if you would be interested in attending and we will be keeping everyone up to date with a confirmed date and time and login in information for those that require it.
So, to the markets:
Kind Regards, Caroline Rupik
Director – Straight Talk Wealth Management
I had a strange encounter on Facebook this week (sounds silly, bear with me…). A new mum put a post up on a local group asking for help. She said.
Read moreGood Morning. Unfortunately due to no water supply in this area we have had to close the office today. Communication can be continued as normal but do bare with us. .
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