Short View

Grexit strategy

Wed, 16 May 2012 05:12:00 GMT

It may be a bit late to insulate your portfolio from a Greek exit from the eurozone, but James Mackintosh, investment editor, looks at some possible strategies.

Gold: just another commodity

Tue, 15 May 2012 16:41:54 GMT

The eurozone may be in crisis, again, and investors in risk-off mode, but gold is not climbing. James Mackintosh, investment editor, explains why the historic safe haven of choice is now behaving like a mere commodity.

Credit risk is back

Mon, 14 May 2012 16:03:36 GMT

While the euro would still be viable without Greece, it would be hard for it to continue if a country as big as Spain were to leave. Greece matters only if panic spreads. Investment editor James Mackintosh says the bad news is it seems to be spreading.

Bunds beware

Wed, 09 May 2012 16:48:42 GMT

As the political crisis deepens in Greece, Michael Mackenzie, US markets editor, warns that Germany could drift from its safe-haven peers of the US and UK if Athens flees the eurozone.

Vix not frightened enough

Tue, 08 May 2012 05:36:00 GMT

Investors can bet on market volatility as a hedge against it. Robin Wigglesworth, capital markets correspondent, says the famous gauge of volatility, the Vix, Wall Street's 'fear index', should be more frightened considering the behaviour of its European counterpart, the Vstoxx.

Submerging markets

Thu, 03 May 2012 07:07:00 GMT

Investment editor James Mackintosh examines the increasing interest of emerging market debt specialists in the bonds of the eurozone periphery as the financial crisis continues.

A shareholder spring

Wed, 02 May 2012 09:30:00 GMT

Shareholders are wielding their power over corporate pay and boardroom practices. James Mackintosh, investment editor, examines the evidence on whether they should expect improved share prices as a result

US grows it alone

Tue, 01 May 2012 05:31:00 GMT

US data suggests the country has resisted a third summer slowdown. James Mackintosh, investment editor, looks at the lessons for investors and the chance of the US being dragged down by the rest of the world.

Sunk cost

Mon, 30 Apr 2012 05:54:00 GMT

An Australian mining mogul has announced plans to build a replica of the Titanic. James Mackintosh, investment editor, notices a worrying trend for ambitious projects like this to be dreamt up at the height of a boom. James asks if this is a bad omen for the Australian economy.

Bernanke's lesson in groupthink

Thu, 26 Apr 2012 06:28:00 GMT

FT investment editor James Mackintosh assesses where US interest rates may be heading and the effect on share prices.

Statistics, forecasts and austerity Britain

Wed, 25 Apr 2012 06:42:00 GMT

There are lies, damn lies and British national statistics. James Mackintosh, investment editor, wonders if the recession might be revised away - and says a UK recession should not be high on investors' worry lists

The euro puzzle

Tue, 24 Apr 2012 06:03:00 GMT

Amid the latest round of the eurozone crisis the single currency has stayed strong. James Mackintosh, investment editor, considers whether the market is valuing the euro correctly.

Messy retreat

Mon, 23 Apr 2012 05:41:00 GMT

There was little confidence in the the rally, strong as it looked, but the best climbers were as expected. The retreat looks more chaotic, and even defensive stocks are suffering. James Mackintosh, investment editor, delves in the mud for appealing sectors.

How to read a middling S&P

Thu, 19 Apr 2012 06:28:00 GMT

The S&P 500 index in the US is sitting half way between its low for the month and its high. Michael Mackenzie, US markets editor, considers whether this period of consolidation precludes a sharp correction, or the index digging in for a climb to new highs around 1,500.

Facing the fiscal cliff

Wed, 18 Apr 2012 06:13:00 GMT

On January 1, 2013 automatic spending cuts and tax rises come into effect in the US. This will slash the budget deficit but lead to a recession if it goes ahead. Investors are already worried, but fears are likely to grow as crunch time nears, says James Mackintosh, investment editor.

China blowing Treasuries bubble?

Tue, 17 Apr 2012 05:32:00 GMT

Treasuries now offer just return-free risk, according to author Jim Grant, with yields driven down by the US Federal Reserve and Chinese buying. James Mackintosh, investment editor, examines whether China actually has the influence everyone believes.

Pain in Spain

Mon, 16 Apr 2012 05:16:00 GMT

Anxiety has returned to Spanish markets as the country is pushing for further austerity. Michael Mackenzie, US markets editor, says however difficult it is to please bond vigilantes don't expect a swift eurozone response.

The Bernanke wave

Thu, 12 Apr 2012 05:09:00 GMT

Shares have followed similar patterns for the past three years as wintry optimism gives way to spring gloom. The recent familiar downswing has seen the world's central banks talking up easy money, but as James Mackintosh, investment editor, warns, shares will have to dip much further first.

Alcoa to the rescue

Wed, 11 Apr 2012 17:02:04 GMT

Alcoa’s surprise profit when it opened the US earnings season helped create a strong rebound in equities after Tuesday’s market carnage. Investment editor James Mackintosh says the company's good results are a classic example of the sort of surprise investors really ought to expect.

Euro contagion back with a vengeance

Tue, 10 Apr 2012 06:01:00 GMT

As screens go red on Europe's bourses, FT investment editor James Mackintosh warns that contagion is back, visible already in France and now threatening corporate bonds.

Cheap money sold out

Wed, 04 Apr 2012 05:17:00 GMT

Indications from the US Federal Reserve and the European Central Bank are that co-ordinated easing is at an end, much to the chagrin of traders. But James Mackintosh, investment editor, says that the idea that investors could have both growth and easy money was always a pipe dream.

Coming unstuck

Tue, 03 Apr 2012 05:21:00 GMT

The Wolfson Prize for how to peel apart the eurozone has once more focused minds on how well the single currency is holding itself together. Not well, by most accounts. James Mackintosh, investment editor, looks at the widening gaps and the challenges that face some of the solutions.

Eurozone core hots up

Mon, 02 Apr 2012 05:32:00 GMT

Money from the eurozone periphery continues to swirl towards its centre. The result is a boom in Germany as depression takes hold in Greece. James Mackintosh, investment editor, looks at what Germany's good times and the complications arising from the regional disparities could mean for investors.

A warning from emerging markets

Thu, 29 Mar 2012 16:26:26 GMT

Emerging markets have been underperforming, even as US equities do very well. Either we have been through a regime shift and the dollar, the US economy and shares will all move in line. Or, says investment editor James Mackintosh, emerging markets are flashing a warning signal for the rest of the world.

Europe’s big problem is politics

Wed, 28 Mar 2012 05:01:00 GMT

With elections this year in countries making up about 40 per cent of the global economy, James Mackintosh says investors need to pay attention to politics.

The fear factor

Tue, 27 Mar 2012 04:53:00 GMT

American equities are at their highest since the middle of May 2008. But James Mackintosh, investment editor, says investors are more fearful than the market rally suggests.

Pain in Spain falls everywhere

Mon, 26 Mar 2012 05:12:00 GMT

Contrarians might be tempted by a flutter on Spain rebounding. But the discussion around the country for the rest of the year, and probably next year, is likely to be about recession and missed budget targets. James Mackintosh, investment editor, says Spain and its investors need more than a little bit of luck.

Gentlemen defer bonds

Wed, 14 Mar 2012 05:05:00 GMT

Normal service has resumed. The Vix, Wall Street's "fear gauge", is at levels last seen five years ago, before the financial crisis kicked off properly. James Mackintosh, investment editor, says the equity rally has low conviction but it could be sustained for a while yet if money flows reverse.

Feeling flush

Mon, 12 Mar 2012 05:22:00 GMT

The US Federal Reserve is damping expectations of more quantitative easing, but in Japan and Europe money is easy. James Mackintosh, investment editor, explains why consumer cyclical shares are driven by who's flush with cash.

Greece priced for next default

Thu, 08 Mar 2012 05:29:00 GMT

As the Greek debt-swap nears completion, a grey market for the new bonds is operating under rules designed for developing countries. James Mackintosh, investment editor, analyses whether investors should regard the price as a bargain or an invitation to be a victim of the next default.

LTRO comes with a sting

Wed, 07 Mar 2012 05:18:00 GMT

Bank bonds are going to be riskier than they were for at least three years. James Mackintosh, investment editor, on why that’s something investors should be paying more attention to.

A tale of two easings

Tue, 06 Mar 2012 05:19:00 GMT

Investors are sobering up after the party of the past few months and stocks are down for a third day. James Mackintosh, investment editor, compares to the post-QE2 rally and says a central-bank driven rally may now need reassurance from the real economy.

China in your band

Mon, 05 Mar 2012 05:12:00 GMT

China's renminbi is weaker than it was at the start of the year, and no longer rising in line with the tight band it had stayed within for more than 12 months. James Mackintosh, investment editor, wonders whether it might finally be acting like a normal currency.

It's the currency, stupid

Thu, 01 Mar 2012 05:36:00 GMT

An economy or a stock market may look good from the viewpoint of the country itself, but from abroad the picture can be quite different. James Mackintosh, investment editor, says currency moves are as important as market moves for shareholders.

How to read Draghi and Bernanke

Wed, 29 Feb 2012 07:23:00 GMT

Investment editor James Mackintosh analyses the statements today from Federal Reserve chairman Ben Bernanke and the president of the European Central Bank, Mario Draghi.

Tell-tale bond signals

Tue, 28 Feb 2012 05:42:00 GMT

The tight link between share prices and bond yields has broken down in recent months. James Mackintosh, investment editor, considers the messages being sent by bonds and equities.

Wintertime and the money is easy

Mon, 27 Feb 2012 05:43:00 GMT

The European Central Bank is offering money for (almost) nothing while the US Federal Reserve predicts negative real interest rates for another two years. James Mackintosh, investment editor, explores the impact on European banks and broader equity markets.

Getting high

Thu, 23 Feb 2012 05:23:00 GMT

The S&P 500 is within sneezing distance of last year's post-crisis peak. James Mackintosh, investment editor, examines why analysts' forecasts are so gloomy and whether they could hold the market back.

Pity the poor British motorist

Wed, 22 Feb 2012 05:21:00 GMT

Oil prices in the UK today became the first of the major countries to set a new 2012 record. FT investment editor James Mackintosh examines the impact of oil prices on equities.

European hopes rest on ECB lending

Tue, 21 Feb 2012 05:29:00 GMT

Another Greek bailout has been agreed, and another dose of ECB bank liquidity funding, known as LTRO, will come soon. But Greece will remain a problem, and as Robin Wiggleworth, Capital Markets Correspondent, explains, the eurozone's economic problems remain formidable.

The LTRO effect

Thu, 16 Feb 2012 05:17:00 GMT

Cheap central bank money is being credited with boosting investor confidence. But James Mackintosh, investment editor, wonders if this is just a story to explain a rally actually driven by America's surprising economic strength.

The euro: Made in China

Wed, 15 Feb 2012 05:30:00 GMT

In the past ten years, the relationship between China's foreign currency reserves and the euro-dollar exchange rate has strengthened. James Mackintosh, investment editor, says if the euro survives the Greek crisis its outlook will depend on the extent of global rebalancing.

AAA-choo!

Tue, 14 Feb 2012 05:08:00 GMT

It would seem that the counterintuitive is now the norm where sovereign debt downgrades are concerned. James Mackintosh, investment editor, looks at how important such moves are and why investors should be wary.

Free money rally

Mon, 13 Feb 2012 05:47:00 GMT

Long-term valuations suggest those who have missed out on the rally 20 per cent rally are too late. But James Mackintosh, investment editor, says central banks' free money policies could come to the rescue, so long as inflation stays low.

Buy currency weakness

Thu, 09 Feb 2012 05:40:00 GMT

Greece has accepted German-led demands for austerity, but there is still a danger that Greece exits the euro eventually. As James Mackintosh explains, foreign investors should snap up a devalued drachma.

A return to normality?

Wed, 08 Feb 2012 05:04:00 GMT

Some think that a return to normality is a good opportunity to sell. But investment editor James Mackintosh says measures of sentiment suggest investors are not yet overconfident.

Finding real returns

Tue, 07 Feb 2012 05:30:00 GMT

Equities are increasingly being touted as a good way to protect against inflation, as well as against government defaults. James Mackintosh, investment editor, says the only sure thing is that inflation protection is expensive - and not very reliable.

Calling Greece's bluff

Mon, 06 Feb 2012 05:50:00 GMT

Greece and the eurozone are playing a dangerous game of bluff and double-bluff, but investors care less and less. James Mackintosh, investment editor, examines the threat of a Greek euro exit.

Facebook: Add friend?

Thu, 02 Feb 2012 05:37:00 GMT

Facebook is poised to float at a value as high as $100bn. James Mackintosh, investment editor, considers whether the social networking site is a friend which should be added to your portfolio or just be a one day stand.

Indicator running dry

Wed, 01 Feb 2012 05:42:00 GMT

The Baltic Dry index of shipping costs was one of the best barometers of the world economy during the crisis - but has now run aground, hitting levels not seen since 1986. James Mackintosh, investment editor, analyses why the index has had its day, and what alternatives are available.