Celebrating 25 years

Read about our history

holborn market recap 17.09

Holborn Market Recap 13-17 September 2021

Good day, this is the Holborn market recap. Let’s take a look at this week’s news in finance.

Monday September 13th

News in finance: The Bank of Japan (BoJ) announced that the producer price index gained 5.5% on a yearly basis in August. The figure remained at the highest level in the last 13 years for the second month in a row.

Tuesday September 14th

News in finance: According to the Office for National Statistics (ONS), the UK’s unemployment rate stood at 4.6% in the three months to July, in line with analysts’ expectations.

London thames river

Another set of data released by the ONS showed that average earnings including bonuses rose by 8.3% on an annualised basis in July. The figure was slightly higher than forecast.

In the US, the Bureau of Labour Statistics announced that the Consumer Price Index came in at 5.3% on a year-to-year basis in August. According to UOB analysts “price inflation stayed elevated in August but also pointed to further evidence of cooling as the m/m pace slowed more than expected. Core CPI inflation also increased at a slower than expected pace.”

Wednesday September 15th

News in finance: In China, the National Bureau of Statistics published a report which showed that retail sales grew by 2.5% on a yearly basis in August. The figure was far lower than the expected 7%. Commenting on the low figure, some Chinese economists suggested that “it’s hard for retail sales to return to the pre-COVID growth under the zero-tolerance strategy.”

Inflation in the UK during August hit a record high 3.2% on an annualised basis as data released by the ONS have shown. The accompanying report suggested that “because EOHO was a short-term scheme in summer 2020, the upward shift in the August 2021 12-month inflation rate is likely to be temporary.”

Canada’s inflation rate reached 4.1% in August on a yearly basis, the highest level recorded by Statistics Canada since 2003. Some economists noted that “elevated readings may continue for months because of sustained pressure on energy, food and home prices.”

Thursday September 16th

News in finance: Statistics New Zealand reported that the country’s GDP rose by 17.4% on an annualised basis in the second quarter of 2021. The figure was much higher than anticipated by economists, reinforcing the belief that the RBNZ will raise interest rates next month.

retail sales

The US Census Bureau released data that showed that retail sales increased by 0.7% on a monthly basis in August, surprising economists who had been expecting a 0.8% decrease. Market analysts attributed the rise to back-to-school shopping and child tax credit payments from the government.

Friday September 17th

News in finance: Retail sales in the UK decreased by 0.9% on a month-to-month basis in August according to a survey published by the ONS. The decrease was unexpected while retailers have warned that stock levels are at their lowest since the 1980s.

In eurozone’s financial updates, Eurostat reported that the bloc’s inflation rate came in at 3% on an annualised basis in August, in line with economists’ expectations. This has been the highest figure recorded since late 2011, with energy costs are continuing to drive up the cost of living. The ECB’s policymakers have said that the jump will be temporary.

We hope you enjoyed the weekly Holborn market recap. Whether you are looking to shake up your investment strategy or plan your retirement, Holborn can help. To find out how we can help you, contact us using the form below.

From all of us at Holborn Assets, have a lovely weekend!


Ready to chat with
a specialist?

Get started

You may also be interested in

interest rates

Interest rates: what are they, and how do they work?

Key points: Interest rates show the cost of borrowing and how rewarding it is to save. Inflation is the rate at which the price of goods and services increases over...

Read more
Double tax agreements explained

Double tax agreements – what are they and how do they affect expats?

Key points Double tax agreements prevent you from being taxed twice on the same income. The UK has the world’s largest network of double tax agreements. Double tax agreements provide...

Read more
Investment funds

Investment Funds: What you Need to Know

Key points Investment funds pool money from multiple investors to buy assets. Funds offer a passive and active option to cater to different goals. Investment funds offer a straightforward way...

Read more

What is a high-net-worth individual and how do you become one?

Key points Net worth is a metric that gives a snapshot of your bigger financial picture. HNWIs are those with between £1 million and £5 million in liquid assets. Investments...

Read more