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The Fairtree Monthly Market Insights provide our clients with a brief summary of the diverse and affluent range of solutions we offer.  "Monthly Insights" focuses on the performance of our solutions and provides you with a summary of the general market performance.

Click here to download the latest Monthly Market Insights (30/06/2016).
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GLOBAL OUTLOOK: H2-2016

SHIFTING POLICY AND POLITICAL PARADIGMS 


Jacobus Lacock
(Macro Strategist)

 

The shift towards fiscal policy to enact reflation
Over the last 24 months the global economy had to confront a series of deflationary forces. The price of oil fell 60%, commodities fell 40%, the US dollar strengthened broadly by 20% and Chinese policy and growth fears led to softer global manufacturing and concerns around the credit quality of commodity producers.


Future inflation expectations continue to fall despite accommodative monetary policies

(click to enlarge)

 

Deflationary pressures peaked earlier in the year, markets tumbled and many feared the world was heading towards a recession. Policy makers were forced to respond to dissolve the negative deflationary and macro pressures exerted on financial markets. The US Federal Reserve refrained from hiking interest rates, while the European Central Bank dropped interest rates further into negative territory and increased their asset purchase program to include corporate bonds. The Chinese central bank also acted by clarifying its own policies.


Growth and financial markets stress recovered from the first quarter

(click to enlarge)


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