Monday Espresso

On Tuesday 2 April, Bitcoin soared over 15%, traded above $4,900, the highest in six months and continued to jump the next day, reaching $5,000 mark.

On Wednesday 3 April, Chinese Technology firm Tencent announced that it will issue bonds worth $6bn on April 11, 15 months after its previous bond launch in January 2018. The company’s revenue was reported reaching $45.56bn for 2018, a 31.5% year on year increase.

On Wednesday, Eurozone Composite PMI for March was released, showing a slight decrease to 51.6 from 51.9 in February. However, the Services PMI increased from 52.8 to 53.3, the strongest rate since last November.

On Friday 5 April, US nonfarm payroll employment for March was published, with 196,000 jobs added, beating economists’ estimation of 175,000, also marking a significant increase from February number of 33,000.

The US CPI will be released on Wednesday 10 April and is expected to come in at 1.8% YoY.

The UK trade balance for February will be announced on the same day, Wednesday 10 April, with an expected deficit of £3,900m.

-1.0     A score of -1.0 indicates an extremely poor economic outlook, which is accompanied by a high probability of negative returns in risky asset classes like equities. The Risk Barometer tilts our portfolios away from equities during such periods.

0.0       A score of 0 indicates a neutral economic outlook with almost equal probability of positive and negative returns in risky asset classes like equities. The Risk Barometer maintains a balance between equities and other asset classes during such periods.

+1.0   A score of +1.0 indicates an extremely positive economic outlook, which is accompanied by a high probability of positive returns in risky asset classes like equities. The Risk Barometer tilts our portfolios towards equities during such periods.

*as at latest realignment 31/03/2019

Notice:

The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.