28th May 2024

Weekly Espresso

The infoshot to help kick-start your week

Last Week


  • UK Prime Minister Rishi Sunak has announced a general election for July 4, giving him just six weeks to convince voters to re-elect his government. The announcement led to increased volatility in the pound. Sunak’s strategy hinges on economic improvement, while Labour leader Keir Starmer argues that the next government will inherit the worst economic situation since World War II. The announcement caught many, including Chancellor Jeremy Hunt, by surprise, and there is significant disappointment among Conservative MPs who were expecting more time to prepare.


  • The latest FOMC minutes reveal that Federal Reserve officials are inclined to maintain higher interest rates for an extended period, with “many” questioning if current policy is restrictive enough to reduce inflation to their target. While the policy was considered “well positioned,” officials expressed a readiness to tighten further if necessary. Concurrently, Goldman Sachs CEO David Solomon said he expects the Fed will not cut rates this year due to the economy’s resilience, bolstered by government spending.


  • A two-speed global economy, driven by US strength, is a key focus at the Group of Seven meeting in Italy, as officials face the challenge of less synchronized monetary policies. Finance ministers are considering the sustainability of America’s growth, while the euro zone is expected to announce an interest rate cut soon, boosting the dollar as the Federal Reserve maintains higher rates. Meanwhile, UK consumer confidence has improved for the second month in a row, following a near three-year low in inflation, a positive sign for Prime Minister Rishi Sunak. Highlighting global economic disparities, Federal Reserve Bank of Atlanta President Raphael Bostic noted that current monetary policy has been less effective in curbing growth compared to previous cycles.

Market Pulse

Coming Up

  • US CB Consumer Confidence, Tuesday 28th May 2024 at 3:00pm.
  • US Q1 GDP data released, Thursday 30th May 2024 at 1:30pm.
  • BofE Governor Bailey Speech, Thursday 30th May 2024 at 7:50pm


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

+ 0.51

as at latest realignment 30/04/2024


    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.