Inflation, deflation and market views
US inflation figures are higher than hoped (3.1% v 2.9% expected), jolting the market again and pushing Euro:Sterling to the highest since August 2022 and strengthening the Dollar.
Our inflation at 4% was slightly less than expected but we have now entered ‘Recession’ with ‘two quarters of negative growth’ – good in attacking inflation but...
Consumer confidence
‘Consumer Confidence’ has risen for the third month and now at a two-year high, regardless of what negativity you may hear in the media. This seems to be supported by buoyant consumer spending since last autumn as well.
It’s good, as it will reflect in economic output but will too much enthusiasm dampen the Chancellor’s...
Economic ups and downs
Just as we think things have brightened, out comes the inflation figure at 4% versus the expected 3.9%. That was blamed on tobacco and alcohol – the latter also as duty rose on wine last autumn, based on alcohol strengths.
It is as if the government doesn’t realise that increasing taxes on products increases inflation......
Financial predictions for 2024?
Ominous Bitcoin
So the SEC has approved 11 ETFs which invest in Bitcoin. First of all, don’t worry – we shan’t be buying them. Bitcoin is not an ‘asset’ and has nebulous, proven legitimate value and use. This ‘development’ is added to the latest speculative explosion about ‘AI’ (which of course has myriad applications and...
Good news to start 2024
A welcome piece of good news on the last trading day of 2023 – Lonfin, a long-term holding of ours (albeit small overall), has announced that its key connected party, Western Selection, is making a significant cash repayment to shareholders, including Lonfin.
This is our 16th piece of positive corporate news in 2023 affecting closed-ended...
Inflation drops sharply
Encouraging end to a volatile 2023
Will ‘Santa Rally’ see us to Christmas?
