10th June 2024

Weekly Espresso

The infoshot to help kick-start your week

Last Week

  • Tenants in the United Kingdom experienced a modest respite from escalating rental costs in April, as competition for properties diminished from its most intense levels in years, according to Zoopla. The annual inflation rate for new leases decreased to 6.6%, marking the lowest increase since October 2021. A notable decline from the 10% recorded a year earlier. Nevertheless, the availability of homes for prospective renters in the UK remains significantly constrained, with the current supply standing at one-third below pre-pandemic levels.
  • In the Year of the Election, with 40 nations conducting national ballots, unexpected outcomes in several major developing countries underscore the significant stakes markets place in the political landscape of 2024 and the inherent risks of relying on opinion polls for predictions. In Mexico, one of the world’s most lucrative currency trades unravelled due to an unforeseen electoral twist. In India, investors re-evaluated their positions, resulting in a single-day market loss of $386 billion, upon realising they had misjudged the extent of Narendra Modi’s electoral victory.
  • The S&P 500 Index reached another record high on Wednesday, as US Treasury yields declined with traders nearly fully anticipating two Federal Reserve rate cuts this year. Wall Street’s positive sentiment has also extended into Asian trading. This optimistic trend may persist beyond this week. Goldman Sachs predicts a rally into early summer, driven by cash from passive equity allocations expected to flow into the stock market in early July.

Market Pulse

Coming Up

  • UK Average Earnings Index, Tuesday 11th June 2024 at 7:00am.
  • US FOMC Economic Projections, Wednesday 12th June 2024 at 7:00pm.
  • US Fed Interest Rate Decision, Wednesday 12th June 2024 at 7:00pm.
  • US FOMC Press Conference, Wednesday 12th June 2024 at 7:30pm.
  • US Fed Monetary Policy Report, Friday 14th June at 4:00pm.


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

+ 0.57

as at latest realignment 31/05/2024


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    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.

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