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The Site has been approved for issue in the UK by AHR Financial Planning Limited trading as AHR Private Wealth. AHR Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”), and is entered on the Financial Services Register with the firm reference number 208467.

AHR Financial Planning is part of a global group of businesses known asThe AHR Group. AHR Financial Planning Limited is registered in England and is established at 56, Wentworth Road, Blacker Hill, Barnsley, United Kingdom, S74 0RP, which is its registered office.

Unless otherwise stated in relevant sections of the website, this website is targeted at investors who are generally classified as qualified, professional, accredited or institutional. The information contained in this website is directed only at persons in a country or jurisdiction where access to the information and the use thereof is not contrary to local law or regulation. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction when accessing the information contained in this website. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services, funds and products included in this site. There will be no public offering of services, funds and products in the United States.

The services, funds and products will not generally be available to U.S. Persons.

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In these Terms

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Terms

These Terms cover your use of this Site. All products and services provided by members of the AHR Group have their own terms and conditions (the ‘Product Terms’). You must read both the Product Terms and these Terms. To the extent that the Product Terms conflict with these Terms or any Local Sites’ terms and conditions then the Product Terms will prevail.

We are required by law to tell you that the terms and conditions are in English and that we will communicate with you in English.

From this Site we may provide information or hyperlinks to other websites or pages provided by other entities within the AHR Group (‘Local Sites’) and other parties. Your use of Local Sites and other parties’ sites may be subject to their own terms and conditions. You should read them.

This Site is intended for those who access it from within the United Kingdom. Because of this we cannot guarantee that the Site, or the information thereon, complies with the local laws or regulations of, or is appropriate for use in, any other jurisdiction from which you access it. If you choose to access this Site from a jurisdiction other than the United Kingdom you do so at your own risk and the AHR Group will not be liable for any breach of local law or regulation that you commit as a result of doing so.

Please make sure you read carefully all applicable terms, conditions and disclaimers relevant to your use of the products, services or information that may be offered to you from time to time.

If any part of these Terms is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms which shall continue to be valid and enforceable to the fullest extent permitted by law.

Changes to our Terms

You acknowledge that we may amend these Terms from time to time, at our sole discretion. If we elect to amend these Terms, the revised version will be posted on the Site. You undertake to check the Site regularly for any changes we may have made since your last visit to the Site, since any such changes will be binding on you. By using the Site after we have changed or amended these Terms, you acknowledge that you will be accepting those changes or amendments.

These Terms & Conditions were last updated on 6th February 2019.

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The Content, including layout, of this Site or products or services available via this Site may be wholly or partially suspended, withdrawn or changed at any time.

We also reserve the right at any time to immediately suspend the provision of all or any part of this Site to you and/or block your access to this Site.

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Not all the products and services that you may be able to view via the Site are available in all geographical locations. The relevant AHR Group member reserves the right to make the final determination on whether or not you are eligible for any particular product or service.

If you choose to enter a website outside your country of residence, you are advised that it may not be legal in that jurisdiction for you to access or use the facilities available on that site and the legal requirements of that jurisdiction may prohibit you from dealing or otherwise transacting in that jurisdiction. No member of the AHR Group will be liable for any breach of local law or regulation that you may commit as a result of using and accessing a website in a country in which you are not resident.

Please be aware that some of the products and services listed within the Site and those provided by any other AHR Group members or third parties that may be accessed via a link from this Site may not be suitable for all investors. Always read the product information fully before committing to any contractual agreement.

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You agree that any of the products or services provided to you by us or any other HR Group member shall be deemed to be provided in the jurisdiction within which the member providing the product or service is authorised to operate.

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Should you seek to rely in any way whatsoever upon any Content contained on this Site, you do so at your own risk.

Before you make any decision or take any action that might affect you or your personal finances or business, you should always consult a suitably qualified professional adviser(s) to obtain appropriate financial, legal, accounting, tax and other advice.

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We do not represent that:

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To the extent permitted by law, neither we nor any member of the AHR Group shall be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with:

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The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.

All of the above exclusions apply even if you have advised us or any other member of the AHR Group of the possibility of the above types of damage, loss or liability.

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You are wholly responsible for use of the Site by any person using your Password.

We reserve the right to suspend access to the Site in the event that we suspect that an unauthorised person is attempting to access the Site using your Password.

Your obligations

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    • redistribute any of the Content (including by using it as part of any syndication, content aggregation, archive or similar service); or
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Internet and e-mail communications

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Neither we nor any other member of the AHR Group are responsible for any such messages nor liable to you or anyone else for any damages or otherwise in connection with any messages sent by you to us or any other party or any messages sent or appearing to be sent by us or any third party to you over the Internet (including e-mail). You should not include any sensitive or confidential information in such messages.

Our monitoring of communication

To help us improve our service and in the interest of security, we may monitor and/or record communications (whether over the Internet, telephone or otherwise) between you and us. All recordings are our sole property.

Data protection and Privacy

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Governing Law

These Terms are governed by and are to be interpreted in accordance with the laws of UK.

The courts in England and Wales will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of this Site.

Weekly Market Update Monday 23rd January 2023

Weaker economic data weighs on Wall Street

It was a mixed picture for global equities this week, as markets in the West digested poor economic data and hawkish remarks from central bank figures. Whilst in Asia, markets continued to rise off the back of China’s reopening from strict lockdown conditions. Markets in the US slipped this week after worse than expected US retail sales and manufacturing output in December. US retail sales for December declined by 1.1% more than the 0.8% forecast, whilst manufacturing production has fallen by 1.3% instead of the forecasted 0.3% fall.

Sentiment in US and European equity markets were also constrained by hawkish comments from Federal Reserve (Fed) and European Central Bank (ECB) figures. Despite signs of inflation peaking recently, Lael Brainard, vice-chair of the Fed, remarked that “We are determined to stay the course,” with regards to getting inflation down to target. As if to confirm their thinking, initial claims for US unemployment benefits in fact fell to 190,000 in the week ending January 14th from 205,000 in the previous week, indicating the labour market is perhaps more robust than the Fed would ideally like. Meanwhile ECB president Christine Lagarde at the World Economic Forum also echoed similar sentiments saying that “We shall stay the course until... we can return inflation to 2% in a timely manner.”
As of 9am London time, the main US index fell 2.51% over the week, whilst the US technology sector fell 2.05%. Europe also lagged, down 0.85%, whilst the UK market finished lower by down 0.89%.

Asian markets fare better

Despite the news that China’s GDP growth fell short of last years 5.5% target, investors there instead focused on the final months of Beijing’s abrupt U-turn on Covid lockdowns. This week as of 9am London time, the Shanghai index rose 2.18% whilst the Hong Kong index also rose 1.41%. Japan also fared better this week after their central bank decided against tweaking their yield curve control measures further. Their decision to maintain ultra-low rates sent the Yen almost 2% lower on the day, whilst Japanese stocks reacted positively, finishing the week higher by 1.25%. The Australian market also managed to finish in positive territory up 1.69% after employment figures came in softer than expected, reducing pressure for the Reserve Bank of Australia to raise interest rates.

Safe-haven bonds rally

In response to investors’ jitters over the health of the US economy, investors fled to the safety of core government bonds. As of 9am London time 10-year US treasury yields, which move inversely to their bond price, fell 8 basis points to trade at 3.42% whilst equivalent 10-year German bunds and Gilts also rallied. Their yields also falling by 5 and 4 basis points to trade at 2.11% and 3.32% respectively.

Oil continues its rise driven by China reopening.

Oil prices edged higher as investors expressed optimism that Chinese demand would recover. The International Energy Agency also said that with China moving away from its strict Covid-19 restrictions, crude demand is expected to hit a new record this year, while price-capping sanctions on Russia could reduce supply. Brent crude rose by 1.74% to $86.76 per barrel. Meanwhile Dutch wholesale gas prices continued their decline on expectations of strong supplies of liquefied natural gas and healthy stock levels in Europe. The Dutch Natural Gas Forward 1 month contract fell 5% over the week.