In this September episode, Robin Adamson, Director of Investment Management from Tilney’s Glasgow office, talks to Ben Seager-Scott, Head of Multi-asset Funds. They discuss how August is typically a month of sentiment effects, including the Jackson Hole Symposium, inflation and the US debt ceiling.
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1:20 A brief recap of recent market movements – equities are climbing, emerging markets are a little rockier, and both commodities and bond yields dipped and rose again around the time of the Jackson Hole Symposium. Overall, a volatile market reacting to relatively small data points.
5:35 Although the Federal Reserve has been comfortable with the run-hot strategy for inflation, should the tapering of the asset purchase programme start, how will this impact it? Will Chair Powell’s recent statements mark a change of view?
15:30 Keeping a close eye on inflation – the team are watching for a broadening of sectors driving inflation (not just those isolated to the effects of Covid), any slack in the economy, unemployment dropping to very low levels or money supplies continuing to increase.
17:00 The US debt ceiling is back in focus – will this slow down any likely trillion-dollar infrastructure spending programme in the US?
19:35 Looking through the short-term noise – what is the view on asset allocation in the current markets, especially at a macro level?
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