Weekly Newsletters

03 June 2022 | William Buckhurst

That Was The Week That Was

MACRO

  • Better news from China as the Shanghai lockdowns start to ease a bit and the PMI Data, while still below 50, was better than expected
  • German inflation at 8.7% was higher than expected
  • Strong US payroll growth put the market on alert for further rate rises leading to growth stocks selling off again at the end of the week
  • Boris Johnson’s allies prepare to defend him in a challenge to his leadership, as they concede it is increasingly likely that rebel MPs have reached the key threshold needed to trigger a vote of no confidence in the UK prime minister this week

COMPANY NEWS

  • Sony management briefings, positive noises about music, films, and significant investment in gaming
  • Unilever shares rose as billionaire activist investor Nelson Peltz joined the board
  • German police raided the offices of DWS and its majority owner Deutsche Bank as part of a probe into allegations of “greenwashing”

JUBILEE STOCK MARKET HISTORY

1556: Queen Elizabeth I officially inaugurates the Royal Exchange in the City of London and confers a royal license to trade in liquor

1672: Debt crises and fiscal problems are nothing new. In January 1672, King Charles II puts a “stop on the exchequer” suspending repayment of his debts for a year

1932: George V Sovereigns, also referred to as WWI Gold Sovereign coins, were the last British gold coins in circulation until 1932 when Britain left the gold standard

2021: Prince Harry and Meghan, the Duchess of Sussex, are getting into the investment business. They are joining Ethic, a fintech asset manager in the fast-growing environmental, social and governance space, as “impact partners” and investors

OTHER NEWS

An incredibly bullish presentation from CLSA on robots and automation suggesting we are at a historic level of adoption and technology convergence globally for the automation industry right now.  Last year was a watershed year for the robotics industry as orders from non-auto companies exceeded those from North American automakers for the first time, founder of Plus One Robotics Erik Nieves said at this year’s CLSA Japan Forum

JUBILATE REGINA” 

  • Forbes estimates that in exchange for the £51.8m Sovereign Grant, HMQ generates £19bn for the UK economy
  • In 1953 the average house cost £1,884. Over the course of HMQ’s reign this has risen 377%% (as adjusted for inflation) to £256,405 (source Kelley Williams UK)
  • Over the course of her lifetime HMQ has notched up and estimated £6.75m in her horse racing winnings
  • Although we are capable of great acts of kindness, history teaches us that we sometimes need saving from ourselves – from our recklessness or our greed” HMQ

MARKET DATA

% returns

1 Week

1 Month

1 Year

5 Years

UK Equities (% return)

-0.63

0.43

3.01

0.84

World Equities (% return)

-0.71

-3.28

-3.90

45.83

10 Year US Treasury Yield ((%)

2.94

2.97

1.63

2.16

GBP / USD (fx rate)

1.25

1.25

1.42

1.29

 As at 3rd June 2022. Source: Financial Express

 

 

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