AXA's Hooper: 'Schizophrenic' markets marred by political interference

Although markets have come a long way from their crisis lows, markets feel as schizophrenic as ever, with investors agitated by rate rises and political concerns, says Jamie Hooper, manager of the AXA Framlington UK Growth fund.

From QE tapering to the divergence in global monetary policy, calls for interest rate rises over the next year are getting louder on both sides of the Atlantic. The end of cheap and plentiful money is in sight and a disorderly unwinding of the bond market from low unsustainable yields cannot be discounted. Equities normally struggle in such an environment. Rising agitation The UK landscape is one of political interference and rising agitation ahead of the election year. A flood of new issues at lofty and often unwarranted valuations are creating investor fatigue and, therefore, ...