Investment Update

We reported on the Fed’s lack of ambition in loosening monetary policy earlier in August.

Since we last wrote to you, so much seems to have transpired; Trump was nearly assassinated; Biden has (effectively) abdicated, propelling Kamala Harris to ‘President-in-waiting’;

We first drafted this piece two days ago (please forgive us if there are any short- term inaccuracies). This is an illustration in how much can change in such short order.

As May draws to a close it has been a significant month for a number of reasons, but most notably the call for a general election in July.

The closing act of April witnessed equity markets reaching new highs, propelled there by investors’ interpretation of a more dovish stance by the Fed and upward analyst earnings revisions.