Blog

13th November 2017

Monday Espresso

 

 

  • Whilst on his 13-day trip around Asia, US president Donald Trump said the US will no longer tolerate “chronic trade abuses” in a defiant address at the APEC summit in Vietnam. The US trade deficit with China was close to $310bn last year
  • Apple Inc. was the latest participant to tap debt markets, issuing $7 billion of debt at various maturities of 2-year, 3-year, 5-year, 7-year, 10-year and 30-year fixed-rate notes with the 10-year tranche pricing at 72 basis points over comparable Treasurys’
  • Japanese equities have continued their strong rally this year, with the TOPIX (Tokyo Stock Price Index) reaching a 26-year high, as market participants look to Japan’s high earnings growth potential
  • Oil prices continue to rise on the back of supply cuts and political tensions in Saudi Arabia, as Brent crude reached $64 a barrel. Saudi Arabia plans to cut crude exports by 120,000 barrels per day in December, slashing allocations to all regions

  • On Tuesday 14 November we will see the release of UK CPI YoY, with the market expecting this to come in at 3.2%
  • On Thursday 16 November we will see the release of US industrial production MoM, with the market expecting a gain on the previous month of 0.4%

  

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.

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.

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 31/10/17

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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