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US Treasury yields surge as Fed toughens stance on mounting inflation
Thursday 31 Mar 2022As we write March is shaping up to be the worst month for US government debt (Treasuries) since 2016. Downward pressure on prices recently pushed the 10-year Treasury yield as high as 2.5%. This marks not far off a full percentage point increase since the beginning of 2022. Bond prices and yields...
Mark Barnett makes a comeback with new Tellworth equity income fund
Thursday 31 Mar 2022Former Neil Woodford protégé Mark Barnett has made a funds industry comeback with the launch of the TM Tellworth UK Income and Growth fund. The new vehicle provides Barnett with the chance to rebuild a reputation tarred by a period of underperformance that resulted in his inglorious departure from...
Terry Smith uses Fundsmith investor meeting to criticise Unilever top brass
Thursday 31 Mar 2022This year’s Fundsmith Equity Fund (B41YBW7) annual shareholder meeting had to convene over the internet, after group co-founder and chief investment officer Terry Smith contracted Covid. However, it was well up to the usual standard with no shortage of blunt observations about markets and one or...
Robust results from Nike as direct to consumer strategy delivers
Thursday 24 Mar 2022Third quarter results published on 21 March from Nike beat analysts’ expectations and sent shares in the world’s largest sportswear company higher in US after-hours trading. Despite ongoing supply chain disruption, Oregon-based Nike managed to boost margins as it accelerates its shift to direct to...
IG and Plus500 venture overseas with mixed success
Thursday 24 Mar 2022Trading platform Plus500 ( PLUS ) announced on March 21 that it is entering into the Japanese market. This move is motivated in part by the success its rival IG ( IGG ) has experienced in the region. IG is on track to generate revenue of nearly £90 million per annum from its operations in Japan...
Hospitality enjoys good times despite spending pressures
Thursday 24 Mar 2022Leisure and hospitality shares are trading below pre-pandemic levels but arguably the underlying fundamentals have improved. Financially strong operators have taken advantage of favourable market conditions to accelerate their expansion plans. These include Wagamama owner Resturant Group ( RTN ) ,...
Value and inflation protection leave FTSE 100 well placed
Thursday 24 Mar 2022As the first quarter draws to a close most investors will be hoping for less turmoil for the remainder of 2022, with major markets sitting well below where they started the year. For example, the S&P 500 is down around 7% while the technology driven Nasdaq 100 is off 12%, as higher interest...
Hong Kong suspends shares in Chinese property giant Evergrande
Thursday 24 Mar 2022Shares in the world’s most indebted property company and several of its subsidiaries were suspended from trading by the Hong Kong stock market regulator as the company promised a plan to deal with its borrowings by the end of July. Evergrande, which has over $300 billion in loans and liabilities,...
Chancellor Sunak’s spring statement full of surprise support measures
Thursday 24 Mar 2022At a time when UK households face an unprecedented squeeze on their budgets, the chancellor’s targeted tax cuts will go some way to helping those on low and middle incomes. The ceiling for National Insurance contributions has been equalised with that of personal tax at £12,570 starting from July...
Ferguson to leave the FTSE 100 in May as it focuses on the US
Thursday 24 Mar 2022Plumbing products firm Ferguson ( FERG ) , which generates 100% of its revenue in North America, is set to move its primary listing to the US after shareholders recently approved the move. This will see the company exit the FTSE 100 on 12 May as it moves to a ‘standard listing’ on the UK market...