Courteney Morrison

A clean slate for what will likely be a lively year for Equity markets as we navigate inflation, rates, company performance, a raft of very uncertain geopolitical situations and have a number of key elections thrown in for good measure. Today however was a day to get back in the swing of things, adjust to that early alarm, fret about Tax returns and rave about a 16 year old darts player that none of us knew a couple weeks back. Certainly less darts thrown by investors than at Ally Pally and alt…

So there we have it, I estimate 220 or so Daily Snapshot’s for 2023 from the team at Redburn Atlantic and here we are at the last. Firstly we hope they remain useful, insightful and on occasion (when Quicky writes them) entertaining. Secondly, putting them together has been rewarding, mostly entertaining and on very rare occasions quite tedious! I’ve certainly had to get myself clued up on Yield curves, bond auctions, inflation data and all other sources of macro indicators because 2023 has bee…

Here we go, in the famous words of Delia Smith at half time of a Norwich game – ‘Let’s be havin’ you!’ A blockbuster 48 hours awaits us and we spent most of the day patiently impatiently waiting for what Mr Powell and the Fed have to say for next year. A 99% probability of no change in Fed funds rate today (….So you’re saying there is a chance?!) and as well as a Powell press conference, focus will be on new staff economic projections and the ‘dot-plot’ of FOMC members’ views on future level of…

The UK prime minister Rishi Sunak is facing a crucial vote in parliament on the Rwanda bill this evening and with his popularity now as low as Liz Truss (an approval rating of -25.4, according to Conservative Home) the infamous Lettuce which outlasted Truss has, in some parts of social media, been resurrected to challenge the PM’s longevity. The big risk is that with a fairly evenly split Conservative party the bill could be voted down in parliament this evening. Such a defeat (the first of thi…

The two week countdown to Christmas is on. You can almost hear the winding down of gears. Bloomberg green dots increasingly turning to red from midday, investors having a look at portfolios and judging whether to make any last minute changes and a frantic rush to find Christmas presents. I certainly know which one is my biggest problem in that list! There will still be liquidity this week though (in every sense) and while markets made a tepid start there are some possible fireworks on the hori…

It’s Christmas Jumper day so it’s always an awkward moment when you compliment someone on their Christmas jumper then realise they aren’t partaking in the event and their wardrobe is just a bit more festive than most. A few very good showings today in the Redburn Atlantic office and I particularly liked Nick Glydon’s which came with jingling bells so I knew when he was close. Keeping Nick Glydon and the charts team close is very important at this time of year when there is a bit of a lull in co…

Christmas is coming and in a clear sign that we’re in a bull market once again, the £395 pound ‘Ultimate Father Christmas Hat’ is completely sold out. Santa must be getting a good deposit rate at the Royal Bank of Lapland! Today was another day where there weren’t too many noticeable parts moving but the path of least resistance was noticeably back higher once again. The Stoxx 600 closed up 60bps with a broad based rally with a number of indices in Europe (Spain, Italy, Germany) still at new al…

I’m not much of a wordsmith but I was surprised that I had never heard the Oxford University Press word of the year used in context. The word is ‘Rizz’ an apparent abbreviation of Charisma and a colloquial word defined as style, charm, or attractiveness (not to be confused with Rizo aka Phil Risley our Algorithmic trading guru though stylish and charming he is). Maybe that is me confined to the Millennial bucket forever when this is clearly a Gen Z world we’re all living in. I’m probably using…

The macro which has dominated so much of the moving parts in global equities for the second half of this year is likely to take a breather this week given the U.S. thanksgiving holiday and started in that fashion with yields slightly higher, the Dollar slightly lower but nothing really moving with much velocity. All that meant was that European Equities traded within a 35bp range all day and ended the day a smidge better than Friday(Stoxx 600 +10bps), holding onto recent gains but not with any…

Right as readers of the Snapshot will know we are quite keen on our food here on the Sales-Trading desk. So our eyes were of course caught by the Aldi Pigs in Blankets Restaurant pop up in Islington where for 5 pounds (proceeds to charity) you will be able to get a 6 course menu including Pigs in Blankets (well you would hope so) Caramelised onion chipolatas wrapped in bacon, Brie and cranberry candy cane pigs in blanket, and Giant Yorkshire pudding pig in blankets. The bad news is I cant seem…