Month: January 2017
After yesterday’s switching within our portfolio, plus recent profit taking into the December / early January buying frenzy, we find ourselves sitting on over 30% in cash, hunting for opportunities . One thing we have learned at MM over the years is opportunities always come along and sitting on cash for a few weeks / months, rarely is too detrimental to overall investment returns and it can be good for our sleep!
In a 45 minute speech last night Theresa May outlined her plans / hopes for BREXIT which was tough enough to send European equities lower, led by the UK FTSE which fell 1.5%. There is a long and potentially torturous journey ahead in the negotiations between Britain and the EU, hence a correction is hardly surprising after the 10% gains since early December by the UK’s FTSE.
Apologies for the late report we had technical difficulties earlier.
Apologies for the late report we had technical difficulties earlier.
Theresa May is preparing a very important speech for tonight which markets are hoping will deliver a long-awaited blueprint of how the UK “hopes” to leave Europe – we must remember this is a two way negotiation with the whole EU. The respected Sunday Times has reported that May is ready to withdraw from tariff-free trade with the region in return for the ability to curb immigration and strike commercial deals with other countries – this article led to the pound falling over 1% yesterday, trading around 20% below its level prior to the BREXIT vote.
Really bullish, there's more to go in the reflation rally
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