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A turbulent start to 2016

Your Argyle Financial Bulletin for January 2016

Dear Client,

The price of oil.

We are only a few weeks into 2016 and yet market volatility is already more apparent than at any time since the 2008 banking crisis. 

Stock markets have fallen dramatically as a huge drop in the price of oil begins to bite. Iran has begun exporting huge quantities of oil (now that sanctions surrounding its nuclear activities are being lifted) which has prompted a fierce battle for market share amongst the other major oil producers.

It is likely that we will now see the price of oil below $20 a barrel for some time ahead, which will place many countries whose economies have historically been based on securing $80 a barrel into a position of severe difficulty.

Stock market turbulence is being very much driven by some huge institutional investors, rebalancing portfolio's which were previously overly biased towards oil based stocks! This volatility will be with us for some time as the World re-adjusts and countries such as Russia experience very real cash flow problems as their currency devalues. 

The Chinese effect

Chinese economy

China also continues to loom large as it continues on its journey towards becoming a genuine consumer economy. China's leaders will doubtless make further economic mistakes... which may have further international ramifications... but the fact is that millions of their people are being lifted out of poverty every year. As those millions start to prosper, so will China itself.

Of course, it is also impossible to ignore the unsettling effect of conflict and in particular, conflicts that are no longer contained by geographic boundaries and which therefore have the potential to cause greater global instability. Few of us (if any) can even begin to understand how some can claim to justify murder and other heinous crimes in the name of a chosen God.

So, we apologise for starting the New Year on a somewhat negative note, although we remain hopeful that market turbulence will not last too long and 2016 will eventually settle back into the pattern we saw last year. Meanwhile, caution continues to influence our investment strategy on your behalf.

Year-end planning

Finally, we are only a couple of months away from the end of the current tax year, which means that now is the time to be thinking about making pension contributions and using your ISA allowance... if you have not already. Do not hesitate to get in touch if you need to discuss either or both these matters with us.

Please remember...

We encourage you to pick-up the phone (or Skype us) if you would like to discuss any matters further.

regards

Phil Melville & Jean MacIntyre

Financial Planning

Don't delay... it's never too soon to act.
Whether it's planning your children's or grandchildren's Further Education, arranging mortgages or life cover or assessing your pension provision - please chat with us to discuss what options may be best for you.

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Need Advice? We're here to help.

We offer a highly personal service… which means you can contact us at any time to discuss any financial matter that may be of concern to you.

Please use 01442 842538 to contact us with any queries regarding this correspondence, or if you have any other matter which you would like to discuss, you can also email us at advice@argylefinancialgroup.co.uk

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