Highlights Recent progress on the path to a post-pandemic state and the return to pre-COVID economic conditions has been mixed. The share of vaccinated individuals continues to rise globally, and the number of confirmed UK cases has…
Stock markets rebounded on Tuesday after a meaningful Monday selloff, which was driven by concerns that the delta variant of COVID-19 may delay the transition to a post-pandemic world. The chart above presents the optimistic…
Highlights Global oil demand will remain betwixt and between recovery and relapse through 3Q21, as stronger DM consumer spending and increasing mobility wrestles with persistent concerns over COVID-19-induced lockdowns in Latin America…
The UK’s various inflation indicators surprised to the upside in June. Headline CPI inflation rose to a 3-year high of 2.5% from 2.1%, above the anticipated 0.1pp increase. Similarly, at 2.3% y/y, core CPI inflation…
GFIS Model Bond Portfolio Q2/2021 Performance Review & Current Allocations: Hitting A Few Roadblocks
Highlights Q2/2021 Performance Breakdown: Our recommended model bond portfolio underperformed the custom benchmark index by -6bps during the second quarter of the year. Winners & Losers: The government bond side of the portfolio…
The Bank of England did not announce any policy changes following the conclusion of the MPC meeting on Thursday. Instead, the central bank now projects that inflation will “exceed 3% for a temporary period” – an…
Highlights The ongoing transition to a post-pandemic state and fiscal policy are either positive or net-neutral for risky asset prices. Fiscal thrust will turn to fiscal drag over the coming year, but the negative impact this will…
UK retail sales declined unexpectedly in May. The headline number fell 1.4% m/m following a 9.2% m/m jump in April, disappointing expectations of a deceleration to 1.5%. Similarly, sales excluding auto fuel were down 2.1% m/m…