September 2022 - Market Commentary

 The summer months are typically characterised by limited news, thin trading volumes and illiquid conditions which, can serve to accentuate moves in financial asset prices both to the up and the downside. The summer of 2022 has proved an exception. Seldom in the long City careers of many financial market observers have we experienced so much uncertainty, be it geopolitical, political, economic or to do with financial markets themselves. Volatility across both bond and stock markets alike is far more elevated than is typically the case as summer slowly evolves into what looks like a difficult autumn and winter ahead. 

An energy price crisis is now front and centre, making headline news and posing a huge problem for whoever takes the keys to No 10 Downing Street. But eye-watering energy price bills are merely the tip of a very large iceberg.