Both North American and European investor confidence decreased in August, down 4.5 points and 6.8 points respectfully, says State Street.
According to the August 2015 State Street Global Confidence Index (ICI), global investor confidence fell to 108.7, down 4.5 points from July’s reading of 113.2.
ICI developer Kenneth Froot said: “In the wake of the devaluation of the renminbi and the continued turmoil in commodities, investors have exhibited an increasingly cautious tone in August.”
“How this effects the [US Federal Reserve] is yet to be seen; certainly the deteriorating overhang of global growth and the pull back in emerging markets makes a decision to raise rates increasingly precarious.”
State Street Global Markets head of global macro strategy Michael Metcalfe said: “The cut-off to calculate this month’s investor confidence index reading was 19 August, so we have only captured some reaction to China’s decision to change its FX regime.”
Mr Metcalfe said that the fall in this month’s global ICI was driven by European investors, where confidence fell below the key 100 threshold for the first time since August 2013.
The Australian financial services have been warned to clean up their act in the wake of a number of bombshell sexual harassment claims. ...
Magellan chairman and CIO Hamish Douglass has said he’s not afraid of missing out on a “short-term market rally” and that mutant virus...