Stock Take Strong earnings from a number of large companies contrasted with a third US bank failing last week to provide mixed results for investors. The bank in question this time was First Republic Bank. Last week, it followed Silicon Valley Bank (SVB) and Signature Bank to becoming the third bank to collapse since the…

Stock Take “Inflation is taxation without legislation,” said US economist Milton Friedman. If so, it’s little wonder the UK is feeling the pinch. In a big week for UK data, the Office for National Statistics confirmed that consumer price inflation (CPI) fell to an annual rate of 10.1% in March. That was higher than the…

Stock Take Cooling but still too hot. The focus for markets last week was Wednesday’s release of the latest US inflation data, as investors looked for signs that the Federal Reserve might change tack with its interest rate policy. At 5% for the 12 months ending in March, US inflation fell to its lowest level…

Stock Take Markets meandered last week as the volatility induced by the recent turmoil in the banking sector subsided and investors eased themselves into the holiday weekend. The week was book-ended by two significant developments. At the start of the week, the OPEC+ group of oil-producing nations announced another surprise cut in output of around…

Stock Take Those Easter eggs are going to be even more of a treat this year. Last week, market researcher Kantar revealed that the soaring price of sweets and fizzy drinks contributed to a record rise in UK grocery prices, which increased 17.5% compared with March last year. Cocoa prices have increased 7% since February…

Stock Take “Everyone has a plan until they get punched in the face.” Mike Tyson was better known for his boxing than his wisdom, but he had a point. Last week, the US Federal Reserve was duly obliged to ditch the plan it had before the recent banking chaos erupted. In the tumultuous week following…

Stock Take Between a rock and a hard place is an uncomfortable place to be. Just ask the US Federal Reserve and the European Central Bank. The upheaval in global bank shares last week means central banks will have to choose their poison. Do they pause their rate hikes to see if they take hold…

Stock Take Oscillate: to move repeatedly from one position to another. Last week saw markets continue to fluctuate as investors grappled with the higher-for-longer interest rate outlook. The week began with the start of China’s annual National People’s Congress, where outgoing premier Li Keqiang announced an economic expansion target of around 5% for 2023, its…

Stock Take Soft landing, hard landing, or no landing at all. Markets are still having a tough time figuring out which economic outlook to believe. A soft landing is the scenario policymakers and markets would most like to see, where inflation is brought down without creating a recession. Worst case scenario is a hard landing,…

Stock Take Just like tomatoes and cucumbers in British supermarkets, good news was hard to find last week. The empty fruit and veg shelves are down to cold weather in Spain and North Africa, and the cost of heating greenhouses in the UK. However, shelves in continental Europe remain well stocked, drawing inevitable accusations of…