On Tuesday September 24, an impeachment inquiry was launched against President Trump concerning a whistleblower complaint that accuses Trump of pressuring Ukrainian President Volodymyr Zelensky to investigate his political rival Joe Biden over a phone call in July.

Also on Tuesday, the co-founder of WeWork Adam Neumann announced his decision to step down as the CEO of the company. The start-up’s IPO had been delayed the week before due to slashed valuation.

On Wednesday September 25, the UK Parliament resumed after the Supreme Court ruled on Tuesday that the prorogation of Parliament was unlawful.

Crude oil price fell over last week as Saudi Arabia said its oil production capacity can be restored faster than estimated after the drone attacks.

  China Manufacturing PMI will be released on Monday September 30 and is expected to come in at 50.2.

US Non-farm payroll employment data will be released on Friday October 4, with an expectation of 140,000 new jobs created for the month of September.

+0.33*

-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 13/09/19

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.