News this past week
- Strong US data pushes shares to record highs
- Continued expectations for Japanese stimulus; yen sells off
- China GDP growth on target
- European bank stocks rally
- Sovereign bond yields rise
James Klempster, CFA of Momentum Global Investment Management shares his view:
As of last week, the UK officially has a new Prime Minister as Theresa May saw all competition in the Conservative leadership race either be cast aside by her party or rule themselves out of contention. As the week progressed the new cabinet was announced and it provided insight into the pressing concerns for May’s government. Gone is the Department for Energy and Climate Change whereas the UK now has the Eurosceptic David Davis as Minister ‘for Brexit’ heading up the newly minted Department for Exiting the European Union.