Financial Commentary – November 2021

Markets continue to trade within narrow ranges. The reopening of economies has delivered a strange brew of supply chain issues, shortages, stuttering industrial production and inflation.  Supply chain problems will eventually sort themselves, as will shortages but as we’ve said many times before, we doubt inflation will be quite so easy to fix, All major…

Williams Investment Management Financial Commentary

Financial Commentary – September 20210

Markets remain range bound. Central banks continue to emphasise support (or is it endless subsidy?) despite economies reopening. On the other hand, Covid flareups are still happening and while the Biden administration’s chief medical officer, Dr Anthony Fauci, made it clear he didn’t expect a return to lockdowns, he commented that “things are going to…

Williams Investment Management Financial Commentary

Financial Commentary – May 2021

Markets have remained strong, buoyed by vaccine programmes and potential paths out of lockdown assuming greater visibility. Having said that, with various geographical areas moving at different speeds and talk of third waves, there’s obviously a long way to go before anything resembling normality can resume. Economically, inflation and economic growth dominate discussion. Globally, growth…

Williams Investment Management Financial Commentary

Financial Commentary – April 2021

World markets have, belatedly, started to consider the return of that mythical beast, inflation. Long considered extinct by many, it’s a species whose DNA looks eminently capable of resurrection in the ubiquitous economic laboratory experiments now being undertaken by just about every government and central bank. Stock markets are directly affected by bond markets because…

Williams Investment Management Financial Commentary

Financial Commentary – February 2021

Global markets surged after the Democrats secured the U.S. Senate. With both houses now under their control, investors reacted in Pavlovian fashion, anticipating greater monetary stimulus alongside a more expansive fiscal agenda.  We’ve said it before (and many times before that) but how more expansive can any of this get? Sovereign borrowing is close to…