Investment briefing
Fortune’s Favours
The eighteenth century English mathematician, Thomas Bayes, was purportedly the first father of statistical data analysis, developing a theorem which allowed probabilities to be updated depending on available information.
Investment briefing
The stock market euphoria, which accompanied the reflation of major global economies in the wake of the pandemic, is abating.
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.