Since the Brexit vote, the UK homebuilder index has fallen by 30% reflecting concerns that the UK economy – and the UK housing market – are headed towards negative growth.
The market is right to be worried. It’s pretty tough to argue that if the UK heads into recession the housing… Read the article
Banks were hit hard yesterday in the wake of the UK’s vote to leave the EU, with trading in RBS and Barclays temporarily suspended yesterday morning. Today, the market has opened firmer with financials amongst the leading gainers emphasising the increasingly volatile world we are now inhabiting. Standing back from… Read the article
Share prices in the US retail sector have declined by around 7% on average since the beginning of May compared with an advance of 1.4% for the S&P 500 (see following table). Some commentators have suggested this is an indication of weakness in the underlying health of the US consumer,… Read the article
The Korean equity market is cheap. It’s always been cheap. Many things are cheap for a reason though and a key feature of the Korean market is the lack of shareholder focus and precious little alignment of interests between company management teams and minority shareholders. But to quote Robert Zimmerman… Read the article
Having been in the doldrums since the financial crisis, there are now tentative signs that the European residential construction sector is on the mend. We’re seeing encouraging data coming through and from our analysis and our discussions with companies, we’re increasingly confident that the earnings growth potential in the sector… Read the article
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Welcome to the M&G Multi Asset Team’s Allocation blog, previously known as the Episode blog. We have changed the name of our blog to resonate better with our readers in Europe, however, the content and purpose of the blog has not changed. The Allocation blog continues to aim to provide unique market perspectives from our dedicated team of experienced asset allocators.OK