Stock rally pauses to assess US CPI data

European bourses closed Wednesday’s session lower. The Nasdaq followed suit in the US, with the Dow and the S&P 500 ekeing out small gains on the day. This followed the release of October US CPI data which came in as expected and added support to the expectation of another interest rate cut by the US Federal Reserve in December. There was also further US political news last night as the Associated Press announced that the Republicans have secured a majority in the US House of Representatives, which means that the new president will have the power to enact his legislative agenda. With gold down 8% since Mr Trump’s victory, Carsten Menke, Head of Next Generation Research, delivers his assessment of where the precious metal will go now, and Nicolas Jordan joins from the CIO Office to update us on the current expectations of the bank’s investment committee.

00:00 Introduction by Helen Freer (Investment Writing)

00:31 Markets wrap-up by Bernadette Anderko (Investment Writing)

05:30 Impact of Trump victory on gold: Carsten Menke (Head of Next Generation Research)

09:28 Update from the CIO Office: Nicolas Jordan (CIO Strategy & Invnestment Analysis)

13:04 Closing remarks by Helen Freer (Investment Writing)

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