Wellian Weekly 16.09.2019

The need for due diligence

From time to time we are approached for press comment and two weeks ago I was asked for our view on the prorogation of the UK Parliament. A journalist was keen to gauge how it might influence our views on Brexit and, ultimately, how that would affect our asset allocation and fund selection. Such has been the incredible pace of the developments in Westminster recently that just a few days later a question on prorogation seemed, with hindsight, to miss the mark and a fortnight later the picture has changed significantly. Parliament has indeed been prorogued, but with an added surprise that the UK Supreme Court is due to have the final say on its legality.

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Wellian Weekly 19.08.2019

Fears of recession

Financial markets captured column inches last week, as both equity and bond markets launched distress signals. Early in the week markets had been lifted by news that the US would delay its next round of tariffs against Chinese imports. US tech names were the largest beneficiaries from the announcement, which didn’t offer a resolution to the trade issues between the US and China, but it did kick the can down the road beyond the time when the US and China will next formally meet to discuss a resolution, which was sufficient for equity markets to be soothed momentarily.

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