Worldwide Financial Planning

Central banks are reluctant to ease policy since the tightening cycle began over two years ago and this week’s jobs numbers confirm this. The private sector ADP employment report had its biggest monthly gain since July.

It would seem to be a good idea if you cared about society that you would target for prices to fall rather than rise, wouldn’t it? Falling prices would mean we have more money to spare, we would be able to work less, we could retire earlier, you wouldn’t need so much money, and you wouldn’t need for your pension to grow as much? All seems logical to me?

Conmen aren’t successful if they aren’t clever or charismatic. Guess what the characteristics of a sociopath are. They see you as their stepping stone, not a mother or father with savings to feed your children.

Equities have done well so far this year, but bonds have struggled due to the tension between central banks and markets’ assumptions about rate cuts. Investors have been forced to readjust as inflation remained sticky and central banks appeared reluctant to move too early.

You only need to look at the wildness of its price to see that no-one knows the answer to that – other than the market makers creating it probably. There can clearly be no efficient pricing structure.

The monthly nonfarm payrolls report, released last Friday, showed a mixed picture, with strong job growth but rising unemployment and a noticeable slowing of wage inflation. This was seen as positive for the chances of a rate cut by the Federal Reserve before summer.