US election: what does it mean for our portfolios?
Monthly highlights, November 2024
Financial markets can sometimes be wrong-footed by elections, but they called the outcome of this year's US vote correctly. Markets began anticipating a Trump victory over a month ago, despite polls indicating a very close race and the possibility of recounts and delays. As it turned out, the results quickly became clear. The success of Donald Trump and the Republican party will have significant implications for global markets, which our Chief Investment Officer, Caspar Rock, explores in the first of the articles below.
Turning to the UK, we continue to assess the impact of the Autumn Budget. It introduced some far-reaching changes, notably to inheritance tax, but many of the new rules will not take effect until 2026 and 2027. Therefore, in most cases, there is no need to rush into major decisions. In case you missed it last week, we've included a video update from our wealth planning specialists, exploring the Budget in more detail. We will continue to provide you with further updates in due course.
If you would like to receive this newsletter by email, subscribe here.
Should you wish to discuss any aspect of our investment strategy and approach then please get in touch.
Donald Trump has been elected 47th president of the US, and the Republican party has a good chance of winning control of both chambers of Congress. Stock markets have reacted positively, but rising inflation expectations and rising bond yields have the potential to dampen the mood.
THIS MONTH'S HIGHLIGHTS
Cazenove Capital’s wealth planning specialists discuss the implications of the tax changes in the recent Budget. Watch our video update or read the transcript.
Bond markets are concerned about the UK’s borrowing plans, while higher employment costs will be a drag on domestic earnings. This overshadowed the relatively good news for AIM investors.
领英推荐
Despite technology stocks dominating returns in 2023, the market has now broadened out and investors could be missing out on other, overlooked opportunities.
PERSPECTIVE
Schroders' experts share their longer-term views on what Trump's return to office will mean for the US economy and world trade, global equities, fixed income and the energy transition.
Watch the video to hear Cazenove Capital’s investment team in conversation with Kate Leppard, Head of Client Service.
These articles are issued by Cazenove Capital which is part of the Schroders Group and a trading name of Schroder & Co. Limited, 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.
This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.
All data contained within this document is sourced from Cazenove Capital unless otherwise stated.