Blog

9th April 2017

Monday Espresso

 

  • The Czech National Bank removed its currency peg to the Euro, a floor which it had adopted since 2013, with the Koruna rallying 1.3% following the announcement.
  • According to the latest minutes, members of the Federal Reserve Board of Governors expect the US Central Bank to start reducing the size of its balance sheet towards the end of this year. Due to its large bond buying program under quantitative easing, the Fed’s balance sheet has grown over $3.4trillion since 2007.
  • Both the US and Chinese presidents met, with discussions surrounding US-China trade and North Korea high on the agenda. In advance of the meeting, Donald Trump warned the US would take unilateral action to stop the nuclear threat posed by North Korea if China failed to act.
  • Oil rose to a one month high, as members of OPEC suggested they were open to a possible extension of their six-month deal to reduce output.

  • On Tuesday 11 April we will see the UK CPI data for January 17, with expectations of no change leaving inflation at a rate of 2.3%
  • On Thursday 13 April the US PPI data is expected to come in at 2.4% YoY for the month of March, an increase from the February rate of 2.2%

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 20/02/17

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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