News & Insight Weekly Newsletters

09 October 2020 | William Buckhurst

That Was The Week That Was


  • Very clear signs are beginning to emerge that the stock market is factoring in a “Blue Wave” – a Biden clean sweep in the US election
  • In the UK, GDP for August came in weaker than expected
  • Nancy Pelosi, the Democratic speaker of the House of Representatives, has rejected a higher $1.8tn fiscal stimulus offer from the White House, dashing hopes of a breakthrough in the negotiations


An investor in the cultivated meat sector, which is developing sources of animal protein using the principles of biotechnology rather than growing and harvesting a living animal, showed us that 50% of all habitable land on Earth is used for agriculture. Of this, 77% is used for livestock, 23% for growing crops.  Only 18% of the food caloric supply for global consumption is from meat and dairy and 70% of the Amazon Rainforest has already been destroyed for animal agriculture grazing or crops to feed the animals


  • Tesco’s half year results showed vastly improved profitability as shoppers flocked to stores during the lockdown
  • Easyjet stated that it expected to report a full year headline loss before tax of £815-£845m whilst it expected to fly only around 25% of planned capacity for its first fiscal quarter
  • Apple said it would stop selling headphones and wireless speakers from competing companies. The move came as Apple prepares to launch additional audio products; and products from companies such as Bose, Sonos and Logitech are no longer listed on its website


A very well-known quality growth fund told us this week that they are starting to buy cyclical recovery stocks, particularly banks, a sector where they have been underweight for almost a decade


1957: Sputnik 1, the first artificial Earth satellite, is launched by the Soviet Union

2008: President George W. Bush signs the TARP (Troubled Asset Relief Program) bill into law. The $700bn dollar package provided an infusion of capital into the troubled US banking system by purchasing subprime mortgages from banks


As fears of a second wave mount, the UK records 12,872 new Covid cases - over 80% more than this time last week – but the daily death rate at 65 remains very low.


% returns

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World Equities (% return GBP)





10 Year US Treasury Yield (%)





GBP / USD (fx rate)





As at 9th October 2020. Source: Financial Express

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