It has been a while since we had a move of more than 1% for the Stoxx 600 and today the market didn’t mess around, moving the best part of 2% in the wrong direction which we haven’t since the 15th March! Sadly the large move didn’t come with any greater interest and it still feels like people are on the side-lines, observing the moves rather than acting on them. The driving force still feels to be the Debt Ceiling negotiations (understandably) which are ongoing but if you are to believe Yellen’…

With inflation still soaring how about we find you some ideas that we think could potentially double in the next 3 years? Well that was the aim of a new piece of research spanning all sectors, picking out a few themes – industrial change, growth and/or innovation, recovery and special situations and identifying 12 stocks that fit the bill. Ryanair, Tui, Vestas, Believe, ING, Kingspan and Bayer in Europe whilst Amazon, Herc, Sabre, Under Armour and Liberty Global were the U.S. picks. Conviction…

Is it fair to declare today the first day of summer? 17 Degrees when I went outside and I know not really ‘hot-hot’, as a Scotsman walking through the City it felt a little like the Cote d’Azur (not that I’ve been) just without the Med. What better way to celebrate than a with an Aperol Spritz and the Tesco’s Clubcard right now gets you a 1L bottle for £15. Money saving tips from the Snapshot come as standard these days. That’s because inflation is still a problem near enough everywhere in the…

It is the first full 5-day working week in the UK this May though I think many would argue that today felt more like a bank holiday than the previous two Monday’s. ‘Sell in May and go away’ a well-trodden path for Equity investors over the years but the rule book has been ripped up this year as it seems investors on the whole are happy to do nothing in May and then go away. We’re 5bps higher from where we were a week ago, 5bps higher than where we were a month ago and only 3% higher than where…

The Bank of England website went down over the UK rate decision today which is surely the only day of the month where it receives any traffic at all! Not ideal Mr Bailey, not ideal. Thankfully they stuck to the script – 25bps now, more likely to come as inflation risks remained skewed to the upside thanks in large to the effects of a tight labour market. Significant upgrades to GDP forecast too with positive growth this year. Our take – we think the BoE is (still) too pessimistic on growth and…

With all the chopping and changing in the macro backdrop over the past year it felt like there was a collective sigh of relief as the major data point of the day, the U.S. CPI came in with no real surprises in either direction. The fall in services inflation to below 7% for the first time since last August was encouraging but will need to fall further to be consistent with 2% inflation. Services ex rent also fell but the April CPI is unlikely to alter course of Fed policy in the near term where…

I know it may come as a surprise, but you still need sun cream in Scotland in 25mph winds and 15 degrees heat. A week in the relative wilderness on the Isle of Islay was just what I needed, though with an abundance of single malt peaty whisky and a 1 year old I can’t say I am that well rested. These markets remain a challenge and a tiring one at that, highlighted by the 6bp move in the 6 sessions I was away and today still felt like there was a bit of ‘coronation hangover’ in the markets. The S…

Firstly it must be mentioned that it was a pleasure for us to welcome Alexandre de Rothschild, Executive Chairman of Rothschild & Co into the Redburn office today to give us some first-hand colour about the group’s long and impressive history, the family background, the aims and goals in the future and how we at Redburn fit into this. Very exciting times ahead for everyone here. Markets wise I bet there was at least some of you that will look back at the weeks when we were bereft of corporate n…

Congratulations to all those who took part in the London Marathon especially Edmund here on our sales desk! Incredible achievement and a very emotional day for so many in London. The headlines will show that records were broken for the fastest ever London Marathon by a man as Kelvin Kiptum raced around in 2:01:25 but a little further down some of the records show some quite amazing achievements. My eyes were instantly drawn to the fastest marathon wearing a suit and dress shoes (3:23:24 and I d…

Catalystless – Lacking something that precipitates an event. Those that fared better in English than myself in School will be quick to point out that it obviously isn’t a word you will find in the English dictionary but it does feel like the right word to describe the day. Monthly expiry tomorrow usually keeps things fairly level and calm but once again, even with the increased number of earnings hitting the tape, there was an eerie feel to how quiet it was with the Stoxx 600 flat once again a…