Cookie policy

Heartwood's website uses cookies. By continuing to browse you are agreeing to our use of cookies. To find out more, please visit our cookie policy page.

Investment insights

Market Perspective - May 2019

Alistair Campbell, Investment Associate at Heartwood, gives an update on investment markets in recent months. He looks at the positive aspects of the US economy, and also points to factors that could potentially disrupt the current economic environment.

May Strategy Review
Title Date Format

While China fights a trade war, some other emerging market shares are flourishing - Jaisal Pastakia, Investment Manager

13-06-2019 (PDF 114KB)

Market Observation

Does China have buried treasure in the trade war? - Graham Bishop, Investment Director

30-05-2019 (PDF 103KB)

Market Observation

We need to talk about the US debt ceiling - Graham Bishop, Investment Director

29-05-2019 (PDF 102KB)

Market Observation

Market Perspective - March 2019

19-06-2019 (VIDEO)

Three-year performance update: Now is the time for sustainable investment

02-05-2019 (PDF 449KB)

Bond and equity markets are singing from different hymn sheets - Graham Bishop, Investment Director

26-04-2019 (PDF 116KB)

Market Observation

Is now the time to invest in the Indian stock market? - Jaisal Pastakia, Investment Manager

10-04-2019 (PDF 136KB)


Three reasons to invest in Europe, and three reasons to avoid it - Nikki Howes, Investment Associate

04-04-2019 (PDF 143KB)


China's onshore stock market: what has changed? - Jaisal Pastakia, Investment Manager

05-03-2019 (PDF 109KB)

Market Observation

Three things investors should know about Chinese credit markets - Jaisal Pastakia, Investment Manager

28-02-2019 (PDF 79KB)

Market Observation

Is the UK stockpiling ahead of Brexit? - Graham Bishop, Investment Director

14-02-2019 (PDF 117KB)

Market Observation

Market Perspective - January 2019

18-01-2019 (VIDEO)

The 'Fed Pause': Prudence... or a policy error in the making? - David Absolon, Investment Director

08-02-2019 (PDF 147KB)

Central Banks, US

What do Rhine water levels and German growth have in common? - Nikki Howes, Investment Associate

07-02-2019 (PDF 141KB)

Market Observation

Is China about to change the shape of global trade... again? - Jaisal Pastakia, Investment Manager

01-02-2019 (PDF 185KB)

China, Global Economy

What could a battle of inflationary pressures mean for markets? - Graham Bishop, Investment Director

30-01-2019 (PDF 103KB)

Market Observation

Five things to look out for in 2019 - Graham Bishop, Investment Director

04-01-2019 (PDF 152KB)

Global Markets

Title Date Format

A tumultuous Q4 for markets and investors - The Heartwood Investment Team

27-12-2018 (PDF 77KB)

Market Observation

Investment Outlook 2019

12-12-2018 (VIDEO)

Does a more challenging period lie ahead for credit investors? - David Absolon, Investment Director

07-12-2018 (PDF 165KB)

Interest Rates, Bonds

A reality check for investment markets - Graham Bishop, Investment Director

07-12-2018 (PDF 107KB)

Market Observation

Turning to gold in uncertain times - Graham Bishop, Investment Director

30-11-2018 (PDF 141KB)

Commodities, Alternatives

Japanese equities: A sleeping giant slowly awakes - Michael Stanes, Investment Director

23-11-2018 (PDF 164KB)


Market Perspective - November 2018

16-11-2018 (VIDEO)

Global Markets

UK investment markets: Let's not talk about Brexit - Matthew Toms, Investment Manager

09-11-2018 (PDF 136KB)


China's latest trade news has little to do with the US - Jaisal Pastakia, Investment Manager

09-11-2018 (PDF 153KB)

Market Observation

The end of austerity...or at least the promise of an ending? - Heartwood Investment Team

30-10-2018 (PDF 136KB)

Brexit, UK

Are doomsday headlines masking underlying resilience? - Graham Bishop, Investment Director

26-10-2018 (PDF 153KB)

Global Economy

China's stock market marches to its own beat - Jaisal Pastakia, Investment Manager

23-10-2018 (PDF 100KB)

Market Observation

The casualties of a populist budget deficit: Italian banks stocks and bonds

19-10-2018 (PDF 124KB)

Market Observation

Does the future look brighter for European equities? - Nikki Howes, Investment Associate

19-10-2018 (PDF 136KB)


The bond market sell-off at the heart of recent volatility - David Absolon, Investment Director

09-10-2018 (PDF 160KB)

Market Observation

Dealer's choice: An early look at Brexit outcomes - Graham Bishop, Investment Director

05-10-2018 (PDF 135KB)


Is high corporate leverage flagging a future weak spot? - Graham Bishop, Investment Director

03-10-2018 (PDF 109KB)

Market Observation

After a challenging summer, what next for emerging markets? - Jaisal Pastakia, Investment Manager

28-09-2018 (PDF 131KB)

Market Perspective - September 2018

21-09-2018 (VIDEO)

Alternative thinking: asset allocation for the next phase - Graham Bishop, Investment Director

14-09-2018 (PDF 138KB)

Multi-asset, Alternatives

Ten years on from the financial crisis, have we learned enough? Graham Bishop, Investment Director

07-09-2018 (PDF 137KB)

Global Economy, Central Banks

In Focus: Investing for Income

21-09-2018 (VIDEO)

US equities: Why should investors look anywhere else? - Michael Stanes, Investment Director

31-08-2018 (PDF 158KB)

US, Equity

A message from the Heartwood Investment Team

16-08-2018 (PDF 116KB)


Demographic shifts create biotechnology opportunities - Benjamin Matthews, Investment Manager

10-08-2018 (PDF 164KB)


Developed world policymakers place their bets - Graham Bishop, Investment Director

03-08-2018 (PDF 159KB)

Interest Rates, Central Banks, Global Economy

Supportive policymakers open up Chinese equity opportunities - Jaisal Pastakia, Investment Manager

27-07-2018 (PDF 125KB)

Equity, China

Will FAANMG stocks drive tomorrow's markets? - Michael Stanes, Investment Director

20-07-2018 (PDF 158KB)

US, Equity

Market Perspective - July 2018

13-07-2018 (VIDEO)

Scratch beneath the surface of China's recent sell-off - Jaisal Pastakia, Investment Manager

06-07-2018 (PDF 172KB)


Mid-Year Investment Outlook 2018

27-06-2018 (PDF 2MB)

A hawk in doves clothing - Graham Bishop, Investment Director

15-06-2018 (PDF 129KB)

Central Banks

UK equities - still cautious but seeing opportunities in our home market - Michael Stanes

08-06-2018 (PDF 140KB)


Italy: Waiting for the white smoke - Graham Bishop, Investment Director

31-05-2018 (PDF 160KB)


Fixed Income: A sea of red so far this year - Matthew Toms, Investment Associate

25-05-2018 (PDF 160KB)

Bonds, Interest Rates

Market Perspective - May 2018

18-05-2018 (VIDEO)

Demographics and fast-paced reforms make India our top EM pick - Jasial Pastakia, Investment Manager

11-05-2018 (PDF 152KB)


The green bond evolution gathers pace - Benjamin Matthews, Investment Manager

04-05-2018 (PDF 617KB)


Looking through the lens of history: 1960s versus today - Graham Bishop, Investment Director

27-04-2018 (PDF 176KB)

Global Economy, Global Markets

In Focus: Alternatives

20-04-2018 (VIDEO)

Oil supply constraints should be supportive to energy equities - Benjamin Matthews, Investment Manager

13-04-2018 (PDF 191KB)

March sees renewed market volatility - Graham Bishop, Investment Director

29-03-2018 (PDF 123KB)

Renewable infrastructure: A key piece in the sustainable jigsaw - Ben Matthews, Investment Manager

23-03-2018 (PDF 638KB)

Market Perspective March 2018

14-03-2018 (VIDEO)

Trump's political trade wars - Graham Bishop, Investment Director

09-03-2018 (PDF 180KB)

Italy's election should avoid a worst-case scenario - Nikki Howes, Investment Associate

02-03-2018 (PDF 119KB)


A record quarter for corporate profits - Benjamin Matthews, Investment Manager

23-02-2018 (PDF 123KB)


Investors hold their nerve as US inflation edges higher - Graham Bishop, Investment Director

16-02-2018 (PDF 148KB)


Recent market moves - February 2018

07-02-2018 (VIDEO)

A message from the Heartwood Investment Team

06-02-2018 (PDF 115KB)

January's bond blues - Graham Bishop, Investment Director

02-02-2018 (PDF 162KB)


Indian Equities: Expensive, but underpinned by domestic growth - Jaisal Pastakial, Investment Manager

26-01-2018 (PDF 227KB)

Equity, EM

Reflation sets the tone for bond markets - David Absolon, Investment Director

12-01-2018 (PDF 125KB)


Investment Outlook video 2018 - Noland Carter

05-01-2018 (VIDEO)

Multi-asset, Global Economy, Global Markets

Investment Outlook 2018

05-01-2018 (PDF 4MB)

Global Economy, Global Markets

Title Date Format Filter by Topics

China: Coming back into focus - Jaisal Pastakia, Investment Manager

08-12-2017 (PDF 127KB)


Can a Santa rally be delivered in December? - Benjamin Matthews, Investment Manager

01-12-2017 (PDF 156KB)


Gloomy UK growth forecasts confirm our caution - Graham Bishop, Investment Director

24-11-2017 (PDF 132KB)


Market Perspective November 2017

17-11-2017 (VIDEO)

The outlook for oil - Graham Bishop, Investment Director

10-11-2017 (PDF 124KB)


The impact of online retailing on commercial property - Charu Lahiri, Investment Manager

03-11-2017 (PDF 128KB)


China can deleverage and meet its 2020 growth goal - Jaisal Pastakia, Investment Manager

27-10-2017 (PDF 125KB)


Japan's politicians shy away from answering the big questions - Michael Stanes, Investment Director

20-10-2017 (PDF 138KB)


Market Perspective - October 2017

13-10-2017 (VIDEO)

How would we position portfolios if anticipating a Labour government? - Michael Stanes, Investment Director

06-10-2017 (PDF 124KB)


Is the 'higher yield' trade back? - Michael Stanes, Investment Director

29-09-2017 (PDF 124KB)


Angela Merkel may triumph but what will her government look like? - Jaisal Pastakia, Investment Manager

22-09-2017 (PDF 274KB)


Market Perspective - September 2017

15-09-2017 (VIDEO)

Markets will keep testing the euro's pain threshold - Jaisal Pastakia, Investment Manager

08-09-2017 (PDF 121KB)


Green bonds: An evolving marketplace but not yet compelling for UK investors - Benjamin Matthews, Investment Associate

01-09-2017 (PDF 113KB)


The euro: higher or lower? - Jaisal Pastakia, Investment Manager

25-08-2017 (PDF 112KB)


Market Perspective - August 2017

18-08-2017 (VIDEO)

Have investors been too complacent? - Jaisal Pastakia, Investment Manager

11-08-2017 (PDF 140KB)

July's manufacturing surveys: What do they tell us about the health of the global economy? - Graham Bishop, Investment Director

04-08-2017 (PDF 139KB)

Global Economy

Let's talk about currencies - Graham Bishop, Investment Director

28-07-2017 (PDF 113KB)

Global Markets

Trump will not derail the march of sustainable investing - Benjamin Matthews, Investment Associate

21-07-2017 (PDF 124KB)

Market Perspective - July 2017

14-07-2017 (VIDEO)

Shifting from reflation to the higher yield trade - Graham Bishop, Investment Director

07-07-2017 (PDF 119KB)

Central Banks, Global Economy

Mid-Term Investment Outlook

28-06-2017 (PDF 3MB)

One year on from Brexit - Graham Bishop, Investment Director

23-06-2017 (PDF 116KB)

Brexit, UK

Market Perspective - June 2017

16-06-2017 (VIDEO)

The UK election - our key takeaways so far

09-06-2017 (PDF 119KB)

Brexit, UK

The S&P 500: Appearances can be deceptive - Michael Stanes, Investment Director

02-06-2017 (PDF 110KB)

US, Global Markets

The Fed: Predictable and gradual? - David Absolon, Investment Director

26-05-2017 (PDF 109KB)


Is the so-called 'reflation trade' over? - Michael Stanes, Investment Director

19-05-2017 (PDF 129KB)

Central Banks, Global Economy

Market Perspective - May 2017

12-05-2017 (VIDEO)

France: Will a Macron victory reduce tail risk in Europe? - Jaisal Pastakia, Investment Manager

05-05-2017 (PDF 114KB)


Can positive conditions in China be maintained? - Jade Fu, Investment Manager

28-04-2017 (PDF 288KB)


UK General Election: More certainty, or less uncertainty? - Jaisal Pastakia, Investment Manager

21-04-2017 (PDF 290KB)

Brexit, UK

Market Perspective - April 2017

13-04-2017 (VIDEO)

Europe, Global Economy, Global Markets

Fed watch: Prepare for more bond market volatility - David Absolon, Investment Director

07-04-2017 (PDF 295KB)

US, Bonds

UK commercial property and Brexit - Charu Lahiri, Investment Manager

31-03-2017 (PDF 294KB)

Property, UK, Brexit

Diversifying into Japanese small-caps - Michael Stanes, Investment Director

24-03-2017 (PDF 292KB)


Market Perspective - March 2017

17-03-2017 (VIDEO)

US, UK, Global Markets

Are the US healthcare sector's frailties treatable? - Jaisal Pastakia, Investment Manager

10-03-2017 (PDF 297KB)


Can the market's optimism survive a mad March? - Jaisal Pastakia, Investment Manager

03-03-2017 (PDF 297KB)

US, UK, Europe, Global Markets

Does the US economy need fiscal stimulus? - David Absolon, Investment Director

24-02-2017 (PDF 303KB)

US, Global Markets, Interest Rates

Market Perspective - February 2017

17-02-2017 (VIDEO)

US, UK, Central Banks

Inflation risks are rising, but not unduly - David Absolon, Investment Director

10-02-2017 (PDF 302KB)

Central Banks

European equities: focusing on fundamentals over politics - Jaisal Pastakia, Investment Manager

03-02-2017 (PDF 299KB)

Equity, Europe

China: Rebalancing but near term headwinds

27-01-2017 (PDF 118KB)

China, Equity

Market Perspective - January 2017

20-01-2017 (VIDEO)

US, Global Economy, Interest Rates

What to think as the Trump administration takes shape - Michael Stanes, Investment Director

13-01-2017 (PDF 300KB)

US, Global Markets

Outlook 2017 from Noland Carter

05-01-2017 (VIDEO)

Investment Outlook 2017

06-01-2017 (PDF 8MB)

No surprises the Fed lifts rates, but inflation has a stronger impulse

16-12-2016 (PDF 664KB)

US, Interest Rates, Bonds

Market Perspective - December 2016

09-12-2016 (VIDEO)

What does a 'no' vote in the Italian referendum mean? - Jaisal Pastakia, Investment Manager

02-12-2016 (PDF 293KB)

Europe, Central Banks

Early messages from Trump

25-11-2016 (PDF 675KB)

US, Global Economy

Market Perspective - November 2016

18-11-2016 (VIDEO)

Trump wins: our thoughts - Michael Stanes, Investment Director

09-11-2016 (PDF 307KB)

US, Global Economy

The next US president will shape the future of the global economy - David Absolon, Investment Director

04-11-2016 (PDF 305KB)

US, Global Economy

How do we deliver effective income solutions in today's environment? - Jaisal Pastakia, Investment Manager

28-10-2016 (PDF 307KB)

UK, Property, Equity

Fears of deflation deflate - David Absolon, Investment Director

21-10-2016 (PDF 306KB)

US, UK, Central Banks

Market Perspective - October 2016

14-10-2016 (VIDEO)

Global Markets, Central Banks, Global Economy

Sterling weakens, but it's not all bad news - Michael Stanes, Investment Director

07-10-2016 (PDF 291KB)

Brexit, UK, Central Banks

OPEC's announcement is not a game changer - Jade Fu, Investment Manager

30-09-2016 (PDF 302KB)


Has central bank wizardry run its course? - David Absolon, Investment Director

23-09-2016 (PDF 327KB)

Japan, Central Banks, US

Market Perspective - September 2016

16-09-2016 (VIDEO)

Brexit, Global Markets, US

The risk of complacency calls for more circumspection - Jaisal Pastakia, Investment Manager

09-09-2016 (PDF 291KB)

Central Banks, UK, US

Can multi asset investors invest ethically? - Benjamin Matthews, Investment Associate

02-09-2016 (PDF 299KB)


Market Perspective - August 2016

26-08-2016 (VIDEO)

US, UK, Central Banks, Global Economy

European equities: Don't lose faith yet - Jaisal Pastakia, Investment Manager

19-08-2016 (PDF 302KB)

Europe, Equity, Central Banks

China - one year on from the panic - Jade Fu, Investment Manager

12-08-2016 (PDF 295KB)


UK Rate Cut - The Giant Awakes - Scott Ingham, Investment Director

05-08-2016 (PDF 330KB)

Brexit, Global Economy, Japan, Europe

Market Perspective - July 2016

29-07-2016 (VIDEO)

UK, Global Economy, Global Markets

Striking the right balance in fixed income – it’s not simply duration - Matthew Toms, Investment Associate

22-07-2016 (PDF 706KB)

Interest Rates, Bonds, Global Markets

Will the UK government be a forerunner to a shifting global economic narrative? - Michael Stanes, Investment Director

15-07-2016 (PDF 303KB)

UK, Brexit

Property - what has happened?

08-07-2016 (PDF 695KB)

Brexit, UK, Global Markets

Politicians are going on a Brexit hunt...but investors should not run for the hills - Michael Stanes, Investment Director

01-07-2016 (PDF 668KB)

Brexit, Global Markets, UK

Market Perspective - June 2016

27-06-2016 (VIDEO)

Brexit, UK, Global Markets

Message from the Investment Team

24-06-2016 (PDF 727KB)

UK, Europe, Global Markets

The UK referendum: Pragmatism over emotion – Michael Stanes, Investment Director

17-06-2016 (PDF 338KB)

UK, Europe, Global Markets

How are we positioned ahead of the Brexit vote? – David Absolon, Investment Director

10-06-2016 (PDF 45KB)

UK, Global Markets

Brazil clears the first hurdle, but there’s an uphill climb – Jade Fu, Investment Manager

03-06-2016 (PDF 42KB)


Fed Policy and China’s currency – should we be concerned? – Jade Fu, Investment Manager

27-05-2016 (PDF 42KB)

US, China

Are there grounds for the Fed to raise rates this summer? – David Absolon, Investment Director

20-05-2016 (PDF 44KB)


Turning lions into vegetarians – the taming of EM growth – Jade Fu, Investment Manager

13-05-2016 (PDF 43KB)


High Yield rebounds with oil, but can it last? – David Absolon, Investment Director

06-05-2016 (PDF 44KB)


Where are we looking for income? – Jaisal Pastakia, Investment Manager

29-04-2016 (PDF 43KB)

Equity, Property, UK

Japanese equities: Embrace the structural challenges but watch the currency – Michael Stanes, Investment Director

22-04-2016 (PDF 44KB)

EM, Equity, Japan

Europe: A summer of discontent? – Jaisal Pastakia, Investment Manager

15-04-2016 (PDF 43KB)

Europe, Central Banks

Value vs. Growth – Benjamin Matthews Investment Associate

08-04-2016 (PDF 38KB)

Global Economy, Alternatives

An eventful quarter has closed, but what next? – Michael Stanes, Investment Director

01-04-2016 (PDF 43KB)

Global Economy, Central Banks

Where next for UK commercial property? – Charu Lahiri, Investment Manager

24-03-2016 (PDF 36KB)

UK, Property

Is the Fed complacent on inflation risks? – David Absolon, Investment Manager

18-03-2016 (PDF 40KB)


Banks are pivotal to Europe’s growth prospects – Jaisal Pastakia, Investment Manager

11-03-2016 (PDF 41KB)

Central Banks, Europe

Brexit: The investment impact

04-03-2016 (PDF 75KB)

Europe, UK

Time to broaden our EM exposure – Jade Fu, Investment Manager

26-02-2016 (PDF 47KB)

EM, China

US recession risks are rising, but how likely an outcome? – David Absolon, Investment Director

12-02-2016 (PDF 37KB)

US, Interest Rates

European banks: Rising risks, but not a repeat of 2011/2012 – Jaisal Pastakia, Investment Manager

05-02-2016 (PDF 39KB)

Europe, Central Banks

As US corporates face more headwinds, expect more performance dispersion – Michael Stanes, Investment Director

29-01-2016 (PDF 50KB)

US, Global Markets, Alternatives

The commodity adjustment: A boost for developed economies? – Michael Stanes, Investment Director

22-01-2016 (PDF 43KB)

Global Economy, Commodities

If you can keep your head about you – David Absolon, Investment Director

15-01-2016 (PDF 38KB)

Global Economy, China, US

Assessing an extraordinary week for global markets – David Absolon, Investment Director

08-01-2016 (PDF 54KB)

Global Economy, China

Investment Outlook 2016

23-12-2015 (PDF 2MB)

Bonds, Commodities, Equity, Property