Blog

1st April 2019

Monday Espresso

On Wednesday 27 March, Theresa May pledged to resign for the next phase of Brexit if her Brexit withdrawal agreement gets passed. The EU chief negotiator Michel Barnier said on Friday that UK will either face a no-deal Brexit with a short extension on departure or a longer extension provided May’s deal is approved.

US Treasury yields dipped on Monday 25 March and kept tumbling until Wednesday. Two-year bond yield fell to the lowest level in 13 months, together with loss on ten-year and thirty-year bond yields, driven by investors’ concerns on the economic slowdown and the central bank’s increasingly dovish stance.

On Thursday 28 March, China’s Premier Li Keqiang announced that China will allow broader cloud access for foreign technology companies to domestic cloud computing market, a step toward reaching trade agreement after months-long negotiations with the US.

On Friday 29 March, US Personal and Disposable Personal Income for February were published, both increasing by 0.2% compared to January numbers.

Eurozone unemployment rate for February will be released on Monday 1 April, expected at 7.8%.

US unemployment rate for March will be released on Friday 5 April and is expected at 3.8%.

-1.0     A score of -1.0 indicates an extremely poor economic outlook, which is accompanied by a high probability of negative returns in risky asset classes like equities. The Risk Barometer tilts our portfolios away from equities during such periods.

0.0       A score of 0 indicates a neutral economic outlook with almost equal probability of positive and negative returns in risky asset classes like equities. The Risk Barometer maintains a balance between equities and other asset classes during such periods.

+1.0   A score of +1.0 indicates an extremely positive economic outlook, which is accompanied by a high probability of positive returns in risky asset classes like equities. The Risk Barometer tilts our portfolios towards equities during such periods.

*as at latest realignment 01/03/2019

Notice:

The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.

Risk Barometer

0

as at latest realignment

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    Copia Capital Management

    Fleet House, 8-12 New Bridge Street, EC4V 6AL

    Copia Capital Management is a trading name of Novia Financial Plc. Novia Financial Plc is a limited company registered in England & Wales. Register Number: 06467886. Registered office: Cambridge House, Henry St, Bath, Somerset BA1 1JS. Novia Financial Plc is authorised and regulated by the Financial Conduct Authority. Register Number: 481600.

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