MARKETS IN A NUTSHELL - DECEMBER 2022

‘Markets in a nutshell’ is Foord Asset Management’s monthly overview of market movements.

MARKETS IN A NUTSHELL - DECEMBER 2022

December’s market decline saw global equities ending the year down 18% in US dollar terms. Continued hawkish central bank rhetoric on quelling inflation, which has spread to the services sectors, clashed with investor optimism on softer CPI prints. Almost all the global equity sectors were negative in December, with utilities the only exception. Information technology and consumer discretionary led declines as investors pulled out of cyclical sectors more geared to economic growth.

Five Economic Risks Heading Into 2023

While markets were swept up by the holiday spirit, central banks continued to aggressively raise interest rates globally. During November we saw another sobering set of 75 basis point interest rate increases in South Africa, the US, Europe, as well as the UK.

MARKETS IN A NUTSHELL - NOVEMBER 2022

Global equities had their best month of the year as investors drew cheer from the US Federal Reserve intimation that its unrelenting pace of interest rate increases may slow. Some early data pointed towards inflation rolling over in parts of Europe, while US CPI figures slowed more than expected. European bourses outperformed US counterparts.

MARKETS IN A NUTSHELL - NOVEMBER 2022

‘Markets in a nutshell’ is Foord Asset Management’s monthly overview of market movements

MPC Nov 2022 Rate Hike

South Africa’s interest rate hike of 75 bps this week comes as no surprise. In this podcast, Linda Eedes talks to portfolio managers, Farzana Bayat and Rashaad Tayob about Foord’s interest rate expectations, future hikes, where we are on the inflation curve and how Foord is positioned as a result.

How to Think About Risk in the Current Inflationary Environment

Investment executive, Nick Curtin talks with portfolio manager Nick Balkin about how to think about risk in the current inflationary environment.

Why the US Labour Market is Hotter than Ever

Portfolio manager, Nancy Hossack, gives an overview of global markets and how we are positioned accordingly.

At the Mercy of the Mighty Dollar

In this podcast, Linda Eedes, investment executive at Foord, discusses the recent movements of the rand.

M.I.C.E Update

Investment executive, Linda Eedes talks with portfolio manager, Rashaad Tayob about a useful framework that Foord uses to consider macro economic risk.