Jamie Constable’s Macro Markets Update – October 2023

Jamie Constable, Market Strategist at Singer Capital Markets, is pleased to deliver his latest Macro Markets Update in partnership with John Hughman at Vox Markets.

The impact of interest rate rises is being felt throughout the economy and proving a major headwind for UK markets. But as Jamie tells Vox, receding inflationary pressures suggest a catalyst for a recovery from lowly valuations could be in sight.

Chapters:

0:28 – Reflections on a difficult summer for markets, including further twists on the geopolitical stage.
1:34 – What could be the trigger for a rerating of downtrodden UK equities, including further low-ball acquisitions?
5:06 – Should we be worried about the effect of a recession on US and UK earnings?
7:07 – Glimmers of hope on the inflationary front, and a likely peak in interest rates – or even cuts.
10:48 – The dampening effect of rising interest rates on economic activity.
12:34 – The potential for an extraneous shock from possible broadening of conflict in the Middle East.
14:45 – The new normal for inflation and interest rates, and the possible impact on markets. 
21:01 – Sectors to play retreating inflation, and why consumer shares could be a good contrarian bet. 
25:18 – Why you should have exposure to infrastructure and near-shoring driven capex.