Liontrust's Roberts: Why I remain bearish on gilts (despite supportive data)

Brexit concerns

clock • 2 min read

Weak headline UK data support gilt prices once again but I remain reluctant to invest my own cash, never mind my clients', in this market, writes David Roberts

Of course, all needs taken in context. UK CPI at the headline level (which, one must remember, is the Monetary Policy Committee [MPC] target) remained high in June, printing at 2.4%. It was similar with retail sales: we had a blowout number for the month of May and it does look as if economist estimates for June were just too high. Even with this supposed miss, the annualised rate of retail sales growth remains the second highest since the end of 2016 and at a level much of the developed world would give its eye teeth for. We are of course in the business of trying to predict where...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

Spring Statement 25: OBR downgrades UK growth forecast to 1% for 2025
UK

Spring Statement 25: OBR downgrades UK growth forecast to 1% for 2025

Growth expected to rise from 2026

Linus Uhlig
clock 26 March 2025 • 2 min read
UK inflation falls to 2.8% in February in boost to chancellor
UK

UK inflation falls to 2.8% in February in boost to chancellor

Spring Forecast takes place today

Linus Uhlig
clock 26 March 2025 • 2 min read
UK businesses to pay four times more for electricity than in 2020
UK

UK businesses to pay four times more for electricity than in 2020

Calls for Covid-style support for energy bills

clock 25 August 2022 • 1 min read