Wyn Thomas - Axys Investment Management

Quarterly Market Outlook – Autumn 2017

REVIEW OF THE PAST QUARTER:

A continual stream of mixed data and UK growth downgrades over the last quarter meant a relatively volatile time for the UK currency, although a dash of clarity was provided by Theresa May’s speech in Florence. Sterling subsequently strengthened, aided by a more hawkish-sounding Mark Carney and fears of increased inflation. Germany’s Angela Merkel was re-elected, with a surprisingly strong performance from both political extremes. This meant the summer was not as sleepy as most for equities, with performance differences between stocks rising and several disappointing earnings reports were severely punished by investors. Read more…