REVIEW OF THE PAST QUARTER:
The summer was dominated by fears of a China led financial crisis which caused markets to shudder August. The worst day, described as ‘Black Monday’, saw FTSE 100 close down 4.6 per cent, its largest decline since March 2009. The decision by the Chinese central bank to devalue the yuan sparked a huge global sell-off reminding investors that markets are far more correlated than they would like them to be. Meanwhile, inflation remained persistently low in the UK; owing to a fresh fall in the price of oil to as low as $43 per barrel. Jeremy Corbyn’s victory in the Labour leadership election was a surprise, but had little impact on markets. Read more…..