I realise the title above sounds a little like a famous advert from the 1990s (other telecoms operators are available) but, at least during the last month, the world’s political and economic leaders have continued to talk. And talking is just what they need to do. Of course making a few decisions is even better… so thank goodness the season of perpetual hope is almost upon us. More on the global financial markets Christmas presents wish list later.
A Budget in October is unusual, but there are two main reasons why the Chancellor’s performance marginally pre-empted Halloween this year. The first is that we are now in the new cycle of Autumn Budgets and Spring Statements, the première of the latter having been made on 13 March.
For a number of months now, the world’s largest survey of fund managers has observed that, when asked for their greatest financial market fear, the most cited response has been a ‘trade war’. There is a significant slug of rationality for this.
In the global investment strategy calendar there is only one period of time that can compare with the turn of the year in terms of importance… and that is the back to school period.
The value of investments, and the income derived from them, can fall as well as rise. You may get back less than invested. Past performance is not a reliable guide to future returns.