Ten years on from the Brexit referendum, the UK economy has shown resilience, but the equity market tells a more nuanced story. Large caps have led returns, while mid and small caps have de-rated despite earnings growth, driven in part by weaker sentiment and sustained outflows. In this insight, Premier Miton’s Matthew Tillett explores what’s behind this divergence and whether current valuations already reflect much of the negative outlook. This is a marketing communication.
European Investment Grade credit has quietly undergone a structural transformation. Primary issuance is at record levels, U.S. issuers now represent a significantly larger share of the EUR IG index than just a few years ago, and hybrid issuance has already surpassed recent full-year totals.