Walbrook Economics spoke at the Institute of Economic Affairs Pre Budget Briefing on 4th March outlining the case for spending cuts and supply side reforms designed to enhance productivity. A webcast of the event will appear shortly.
This note, published in tandem with the Centre of Policy Studies paper, examines the investment implications of current monetary policy. While we have misgivings as to the efficacy of current monetary and fiscal policy , in terms of supporting sustainable productive growth, it leads us to a conclusion that equities remain the best hedge given likely policy choices. The bond bubble may continue for now, but this is an asset class that is very unattractive in our view. This note is available to our subscribers.
Walbrook Economics has formally launched publishing a note, for the Centre of Policy Studies, called Masking the Symptoms.- Why QE and Huge Deficits are not a cure. The note explores the implications of QE and argues that is has failed to promote sustainable growth instead recreating a series of distortions. While this policy is in Walbrook's view damaging to long-term growth and productivity, the investment implications are clear and positive for real asset holders and equity markets in particular.