Jupiter

The Merlin team discuss the Federal Reserve’s shift in policy, political arguments in the US and EU, and ask what happens beyond the Covid economic recovery.

Are we about to push reset on the global monetary system? Since 2008 the revolution in central bank policy has been extraordinary and fiat currencies, totally reliant on trust, have been undermined arguably to breaking point. Can fiat currencies endure? If not, then could the world turn to a combination of ancient assets (gold, silver) and the ultra-modern (crypto)? In this special event Ned Naylor-Leyland, Head of Gold & Silver is joined by Daniel Masters, chairman of digital asset platform CoinShares, for a lively and informative discussion.

It pays to “do your own homework” and avoid generalisations when considering corporate credit ratings.

Ned Naylor-Leyland looks at the implications of the Basel 3 framework for the Gold market, as the possible end of the LBMA-led status quo approaches.

A court has ruled against Royal Dutch Shell’s carbon emissions plan based on the Paris Climate Accord. The Merlin team give their view on the implications.

Ariel Bezalel and Harry Richards discuss whether inflationary pressures are likely to be cyclical or structural.

Mark Nichols and Mark Heslop, fund managers in the Jupiter European growth strategy, discuss market activity and positioning.

Current conditions in the sterling investment-grade corporate bond market warrant an approach that is active, pragmatic and risk aware. Those who embrace such a philosophy may discover some attractive alpha opportunities ahead.

A question of trust: crypto assets, gold, silver, and the future of the global monetary system

Richard Watts says shares in UK mid-sized companies are particularly well-positioned for an economic recovery and worthy of consideration as a stand-alone allocation

Ned Naylor-Leyland explains why a likely return to falling real interest rates and the strong operational performance of mining companies point to a bullish outlook for monetary metals.

Ned Naylor-Leyland explains why he sees a supply and demand mismatch in the physical silver market and what it may mean for the price of the metal

As its vaccine supply trickles in the EU is lashing out, while riots in the Netherlands and the as-yet untouched Covid-recovery fund point to a deeper malaise.

In the 1990s, the role of independent central banks was to act as global policemen stamping down on inflation whenever it flared up. But following the Great Financial Crisis the referees became players while in 2021 the boundary between independent central banks and their governments will look increasingly blurred. What sort of a world are bondholders likely to face, ask Ariel Bezalel and Harry Richards.

Looking to 2021 and considering the lasting impact of Covid-19, the mountains of debt left in its wake and how stock and bond investors have differing views. Through it all, long-term investors, commensurate with their risk appetite, are best served with a diversified portfolio.

The UK’s finances are a mess and, as the Chancellor himself has said, our economic emergency has just begun. The only two ways to address this are by the government taxing more and/or spending less – so how might they achieve it?

Milton Friedman used to say that “nothing is so permanent as a temporary government programme” and the last twelve years of ultra-low interest rates and quantitative easing (QE) undoubtedly fits the bill. 

“A great day for humanity” exclaimed the banner headline in the Daily Telegraph the morning after Pfizer and BioNTech had announced the successful trial results of their jointly developed Covid-19 vaccine. As last week’s narrative of the US election quickly gives way to the virus again, many see a solution that cannot come too quickly.