Tag Archives for " Brexit "

“Carney warns fall in migrant workers could push up wages and inflation” – Doh!

“There’s an old saying. Don’t piss down my back and tell me it’s raining” (The Outlaw Josey Wales – 1976)   The headlines, such as the one above from the Guardian may have juiced up the point a little, but underlying the attempted prevarication in his recent speech on Globalisation and inflation, this is pretty […]

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Yellen does virtuous – 5 years too late!

Confused?  Well you should be be if you’ve been believing the usual output from the Federal Reserve. Contrary to the narrative of robust US economic growth and tightening labour markets requiring a normalisation of interest rates, things aren’t quite as rosy as Ms Yellen had been suggesting.  Behind the increasingly absurd non-farm payroll data with […]

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UK election special – Theresa May, or perhaps not!

Oh Theresa, why oh why? Was it personal ambition and vanity that led you to risk an overall party majority for what YouGov is now projecting will be another hung Parliament, including the possibility of a Labour led administration? And this would not be the Labour of Blair or Brown, but a return to the […]

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Wazzup today in the markets – 10th May 2017

  ITV (itv_l) – Q FY17 IMS:   Mid-year 2017 inflection point or just wishful thinking ahead of Brexit negotiations?      . Wolters Kluwer (wkl_as) – Q1 FY17 IMS: No fireworks, but a >5% OpFCF yield = a NIRP bolt-hole Compass Group (cpg_l) – H1 FY17 results: Solid value & improving momentum .    Muted start to […]

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When you need to believe the ‘crazies’ are in control

Management by chaos . Did anyone seriously believe that Trump would be able to get his ambitious stimulus plan through Congress if the economy was chugging along nicely as Yellen was continuing to portray? It was almost as implausible as expecting the EU to offer a painless Brexit for the UK while they remain convinced we […]

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Expect relief rally on a probable Macron win, but beware the implications of the forthcoming UK election in June

French Presidential elections are stacked against the extremes, as was the intention. Round one provides the electorate with the illusion of choice as they favour their particular candidate. By round two however, the vote is more likely cast with a view to exclude their least favoured candidate. As long as one centrist candidate can get […]

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Procter & Gamble – Buying a defensive into a recession?

Leaving to one side the possibility that recessionary fears are being used as another ruse to monetise intractable deficits, the current round of recession fears have the “Buy defensives” brigade out in force. One such stock that has been attracting such attention is our old friend Procter & Gamble. Back in 2008, this was also […]

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