Investment briefing
Katana & Wakizashi
Once again, the price of bitcoin is on the tear, encouraged by the launch of SEC-registered exchange traded funds, led by BlackRock’s iShares Bitcoin Trust. That, a cap on interest rate rises (making risk assets more attractive versus plain old cash) , the ubiquitous ‘halving’ event (which cuts the reward for mining Bitcoin transactions in half, artificially reducing new supply at roughly four-year intervals) and rumours of potential Russian sanctions dodging, have propelled the cryptocurrency to new highs.
Investment briefing
Uncommon Sense
During those languid days of Christmas, subdued by mulled wine and mince pies, I gazed out at some pretty miserable weather. Instead of walking the dog, I made the mistake of scrolling through my Facebook account.
Investment briefing
Ricochet
Cast your minds back to 2014, when the Caribbean Island of Puerto Rico, burdened by a chronic budget deficit, spooked the US municipal bond market by passing legislation to restructure some of its enormous $73bn debt pile. US Municipal Bond ETFs reeled and wider markets were spooked, the country’s debt downgraded to ‘junk’ status.
Investment briefing
Electric Dreams
After a rather stifling start to the summer (hosepipe bans at the ready), the weather finally broke in mid-June, to the thrum of heavy downpours and a series of violent thunderstorms across the UK.
Investment briefing
Eyes On The Prize
Just what is going on? Although equity markets scraped and banged into positive territory in the first quarter of 2023, it was a painful, gritty experience.
Investment briefing
Bear markets start for various reasons, but the root cause is constant. Too much debt, too much euphoria and always, the lure of a new paradigm.