In this episode we focus on new investors, those taking the first steps into the world of equities and bonds, pooled funds and direct investment. Fully understanding our clients’ investment needs and objectives lies at the heart of our job. Here we will explain you how we do so to provide best recommendations.
In this episode we focus on new investors, those taking the first steps into the world of equities and bonds, pooled funds and direct investment. Fully understanding our clients’ investment needs and objectives lies at the heart of our job. Here we will explain you how we do so to provide best recommendations.

In this episode we focus on new investors, those taking the first steps into the world of equities and bonds, pooled funds and direct investment. Fully understanding our clients’ investment needs and objectives lies at the heart of our job. Here we will explain you how we do so to provide best recommendations.
In this episode we focus on new investors, those taking the first steps into the world of equities and bonds, pooled funds and direct investment. Fully understanding our clients’ investment needs and objectives lies at the heart of our job.

2021 is the year when inflation came out of a prolonged slumber. It wasn’t a slow, gradual awakening: It was an energized, caffeinated upsurge of 6% or beyond, whether one be standing in Berlin, Washington, Moscow or Brasilia. Central banks assured us it would be fleeting – a quick espresso shot of inflation in a post-pandemic context. However, price pressures are proving to be more persistent while broadening out; this is leading some to concede that the steaming hot inflationary brew in their hands looks more like a caffè lungo.

Price pressures have been fueled by a blend of factors with some of the most pertinent being: exceedingly high demand as economies simultaneously recovered from the pandemic (which even healthy supply chains would have struggled to satisfy), shortages (of labour, raw materials and certain components like semi-conductors), supply chain issues, elevated transportation costs and a global energy crunch.

The past fortnight has brought reassuring news on several of these parameters.

Bottlenecks at US ports are improving. The twin ports of Long Beach and Los Angeles, which account for 40% of sea freight entering the US, have been working around the clock to address shipping container congestion. Back in October, tens of thousands of containers lingered on the docks waiting to be processed due to a shortage of warehouse space, workers and trucks. On the US labour market, the fact that the personal savings rate has fallen so precipitously would seem to bode well for the employment picture. When people deplete their savings, they need to go back to work.
However, like the circular stain left behind by an over-filled coffee cup, high inflation amongst these temporary factors is starting to leave a mark on more permanent drivers of inflation such as labour costs. If this continues unchecked, the risk is that it could ignite a self-fulfilling feedback loop whereby elevated inflation expectations lead to higher actual inflation. If so, rather than cooling in 2022 as central banks hope, inflation could become too hot to handle, calling for aggressive rate hikes that would probably stop economic growth dead in its tracks.

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A podcast generator maintains a central list of the files on a server as a web feed that one can access through the Internet. The listener or viewer uses special client application software on a computer or media player, known as a podcast client, which accesses this web feed, checks it for updates, and downloads any new files in the series. This process can be automated to download new files automatically, so it may seem to listeners as though podcasters broadcast or « push » new episodes to them. Podcast files can be stored locally on the user’s device, or streamed directly. There are several different mobile applications that allow people to follow and listen to podcasts. Many of these applications allow users to download podcasts or stream them on demand. Most podcast players or applications allow listeners to skip around the podcast and to control the playback speed.
As such, in places where inflation has been red-hot for several months already, central banks are acknowledging that they can no longer wait for it to come down on its own accord. Already, in the US for example, consumer sentiment has dropped to a 10-year low on concerns about price pressures, according to the University of Michigan’s November survey. To address inflation, the Federal Reserve will now probably accelerate the pace at which it tapers it’s bond-buying program. A quicker taper will improve the Fed’s ability to anchor inflation expectations and give it more flexibility to hike rates earlier than previously expected, essentially leaving the door open for a first hike as early as spring 2022.