4th March 2024

Weekly Espresso

The infoshot to help kick-start your week

Last Week


  • US inflation pulled down to 2.4 per cent in the 12 months to January which maintained the expectations of rate cuts later in the year. The rate is slightly down from the 2.6 per cent seen in December while the core rate PCE, which excludes volatile food and energy prices, remained in line with expectations at 2.8 per cent. Traders are still pricing in three to four rate cuts this year.


  • There has been a surge in the number of companies using convertible bonds to issue cheap debt. In February, roughly $7.8bn was raised by US companies via convertible bonds, making it the higher monthly figure since August. Convertible bonds typically pay lower interest than a regular bond but can later be exchanged for shares if agreed conditions are met. Convertible bond issuance often rises in markets where equity valuations are high as it gives companies the opportunity to raise cheaper capital without the risk of share dilution.


  • Bitcoin hit $60,000 on Wednesday for the first time in more than two years and is now sitting above $65,0000, nearing its all-time-high of nearly $69,000. The cryptocurrency has been boosted after US regulators approved the launch of new spot bitcoin ETFs by major asset managers which is opening the door to new influx of cash into the cryptocurrency space.

Market Pulse

Coming Up

  • UK February PMI data released; 5th March at 9:30am.
  • UK Spring Budget, 6th March at 12:30pm.
  • ECB Interest Rate Decision, 7th March at 1:15pm.


For professional advisers only, Copia does not provide financial advice, and the contents of this document should not be taken as such. 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.Open document settingsOpen publish panel

Risk Barometer

+ 0.33

as at latest realignment 31/01/2024


    Subscribe to our blog and get our best content in your inbox.

    Copia Capital Management

    Hamilton House, 1 Temple Avenue, London, EC4Y 0HA

    Understanding the risks

    This information is intended for professional financial advisers only. Copia does not provide financial advice. This information is not intended as financial advice and should not be interpreted as such. Model investment portfolios may not be suitable for everyone. The value of funds can increase and decrease, past performance and historical data cannot guarantee future success. Investors may get back less than they originally invested.

    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.

    © 2021 - 2023 Copia Capital

    Advisers, staff of professional firms and other eligible counterparties

    I work for an advisory / professional firm or other eligible counterparty.

    I will take responsibility for any jurisdictional restrictions that apply to the services described by this website in accordance with applicable law and regulation.

    I have read and accept that Cookies are used on this website.  I understand that a Cookie will show that I have accepted the terms to access this website.

    Customers and prospective customers

    I confirm that I am resident in the UK or other EU Country and I am not a US citizen.

    I have read and accept that Cookies are used on this website.  I understand that a Cookie will show that I have accepted the terms to access this website.

    The content of this website may only be viewed by persons that meet either of the above conditions.  If neither option is applicable please click here which will close this webpage.