Economic Outlook and Market Commentary
What a year 2024 has been so far. Gold medals are still shining from the Olympic and Paralympic Games this summer, football (almost) came home for England’s men’s squad and Andy Murray hung up his racket on the professional circuit.
Yet August may have brought the most unexpected event of the year (or even the decade): Noel and Liam Gallagher have agreed to reunite for a worldwide tour. With these historic moments now in the rearview mirror, the world awaits with bated breath to see what the final quarter of 2024 has in store.
Labour’s victory: A landslide, but not a smooth ride
Since our last commentary, the UK has witnessed an historic election, with voters decisively choosing Keir Starmer to end the 14-year Conservative leadership.
While this may have been a landslide victory, Starmer hasn’t been able to rest on his laurels in his first few months as Prime Minister. The win appears to be less about pro-Labour enthusiasm and more about an anti-Conservative sentiment, with Labour emerging as the natural alternative. Since the election in July, the approval ratings for top Labour politicians have sharply declined, with Starmer dropping 45 points since the last poll on July 19th.
