Investment briefing
When Jane Austen wrote ‘Pride and Prejudice’ in 1813, an annual income of £10,000 compared to an average salary of just over 30 pounds. In today’s money, Mr. Darcy’s annual income would have been £10 million. No wonder Mrs. Bennet was so excited!
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
In the summer edition of our Investment Briefing CIO Russell Collister provides a concise summary of global markets and outlines our current investment strategy.