The infoshot to help kick-start your week
- Asian shares were down for a sixth straight session on Tuesday, as a renewed EU energy price spike worsened fears of recession. This pushed bond yields higher but tipped the euro to a 20 year low; the single currency was struggling at $0.9937 after falling below parity with the dollar on Monday.
- UK Energy Regulator increases price cap by 80%, suggesting that a typical household gas and electricity bill will rise to £3,549 a year, starting in October, from £1,971 at present. Conservative leadership candidates, Rishi Sunak and Liz Truss, have been warned that the crisis could extend for several years; especially given restricted gas supplies to Europe.
- Stocks fell sharply on Friday, after a hawkish speech from Fed’s Powell, where he said he will continue to raise rates in the fight against inflation, and that ‘restoring price stability will likely require maintaining a restrictive policy stance for some time’. The Dow Jones Industrial Average dropped 1.22%, the S&P500 fell 1.5% and the Nasdaq Composite slid 1.84%.
- US CB Consumer Confidence figures released 30th August, predicted to increase 1.7 points from 95.7 in July.
- EU CPI (Aug YoY) data released 31st August, predicted to increase by 0.1% from July.
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