Pegasus Capital

Blog With Tag pension funds

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A View from the Bridge - July 2016

Data output for July was never going to be anything but dramatic after the Brexit result but it wasn't the UK grabbing the headlines. US seasonally and inflation adjusted annual GDP growth of just 1.2% in Q2 was the weakest pace in any expansion period since 1949! This was at odds with some of the more positive news as consumer spending remains strong, home sales have hit a post-recession high and 287 thousand new jobs were added but reduced business investment, large reductions in inventories and declining Government spending have clearly knocked economic output. The likelihood of a September rate hike has reduced to 12% and US long term rates have hit the lowest in their 227 year history.

PegasusCapital - Thu 4th Aug

A View from the Bridge - July 2017

The primary driver of the recent rise in UK swap rates has been a more hawkish tilt from certain members of the Bank of England’s monetary policy committee. This has been predicated on more recent inflation outturns coming in above levels anticipated when the BOE last published its quarterly inflation forecasts in early May and that CPI will rise above the 3% level in the coming months before moderating as past effects of foreign exchange rate weakness work their way through the economy.

PegasusCapital - Thu 3rd Aug