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You acknowledge and agree that access to this Site is provided only in accordance with these Terms & Conditions.

By accessing this website (the ‘Site’), you agree to be bound by the following terms and conditions (the ‘Terms’). Before using this Site, you should read carefully the Terms, our Cookie Policy and also our Privacy & Security Statement. If you do not agree to these Terms & Conditions, please do not make use of this Site.

The Site has been approved for issue in the UK by Harrison Rowe Financial Planning Limited trading as Harrison Rowe Private Wealth. Harrison Rowe Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”), and is entered on the Financial Services Register with the firm reference number 208467.

Harrison Rowe Financial Planning is part of a global group of businesses known asThe Harrison Rowe Group. Harrison Rowe Financial Planning Limited is registered in England and is established at 56, Wentworth Road, Blacker Hill, Barnsley, United Kingdom, S74 0RP, which is its registered office.

Unless otherwise stated in relevant sections of the website, this website is targeted at investors who are generally classified as qualified, professional, accredited or institutional. The information contained in this website is directed only at persons in a country or jurisdiction where access to the information and the use thereof is not contrary to local law or regulation. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction when accessing the information contained in this website. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services, funds and products included in this site. There will be no public offering of services, funds and products in the United States.

The services, funds and products will not generally be available to U.S. Persons.

Should you wish to contact us please refer to the Contact Us link which can be found on each page of the Site.

In these Terms

  • ‘Content’ means all pages, screens, information and materials included in or accessible through this Site (including any content available on any email or SMS services).
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Terms

These Terms cover your use of this Site. All products and services provided by members of the Harrison Rowe Group have their own terms and conditions (the ‘Product Terms’). You must read both the Product Terms and these Terms. To the extent that the Product Terms conflict with these Terms or any Local Sites’ terms and conditions then the Product Terms will prevail.

We are required by law to tell you that the terms and conditions are in English and that we will communicate with you in English.

From this Site we may provide information or hyperlinks to other websites or pages provided by other entities within the Harrison Rowe Group (‘Local Sites’) and other parties. Your use of Local Sites and other parties’ sites may be subject to their own terms and conditions. You should read them.

This Site is intended for those who access it from within the United Kingdom. Because of this we cannot guarantee that the Site, or the information thereon, complies with the local laws or regulations of, or is appropriate for use in, any other jurisdiction from which you access it. If you choose to access this Site from a jurisdiction other than the United Kingdom you do so at your own risk and the Harrison Rowe Group will not be liable for any breach of local law or regulation that you commit as a result of doing so.

Please make sure you read carefully all applicable terms, conditions and disclaimers relevant to your use of the products, services or information that may be offered to you from time to time.

If any part of these Terms is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms which shall continue to be valid and enforceable to the fullest extent permitted by law.

Changes to our Terms

You acknowledge that we may amend these Terms from time to time, at our sole discretion. If we elect to amend these Terms, the revised version will be posted on the Site. You undertake to check the Site regularly for any changes we may have made since your last visit to the Site, since any such changes will be binding on you. By using the Site after we have changed or amended these Terms, you acknowledge that you will be accepting those changes or amendments.

These Terms & Conditions were last updated on 6th February 2019.

Availability of site, products and services

The Content, including layout, of this Site or products or services available via this Site may be wholly or partially suspended, withdrawn or changed at any time.

We also reserve the right at any time to immediately suspend the provision of all or any part of this Site to you and/or block your access to this Site.

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Not all the products and services that you may be able to view via the Site are available in all geographical locations. The relevant Harrison Rowe Group member reserves the right to make the final determination on whether or not you are eligible for any particular product or service.

If you choose to enter a website outside your country of residence, you are advised that it may not be legal in that jurisdiction for you to access or use the facilities available on that site and the legal requirements of that jurisdiction may prohibit you from dealing or otherwise transacting in that jurisdiction. No member of the Harrison Rowe Group will be liable for any breach of local law or regulation that you may commit as a result of using and accessing a website in a country in which you are not resident.

Please be aware that some of the products and services listed within the Site and those provided by any other Harrison Rowe Group members or third parties that may be accessed via a link from this Site may not be suitable for all investors. Always read the product information fully before committing to any contractual agreement.

All products or services provided to you by us or any other Harrison Rowe Group member shall only be available in the jurisdiction/s within which the member providing the product or service is authorised to operate.

You agree that any of the products or services provided to you by us or any other HR Group member shall be deemed to be provided in the jurisdiction within which the member providing the product or service is authorised to operate.

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Information or opinions contained on this Site or in any Local Sites do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments.

Should you seek to rely in any way whatsoever upon any Content contained on this Site, you do so at your own risk.

Before you make any decision or take any action that might affect you or your personal finances or business, you should always consult a suitably qualified professional adviser(s) to obtain appropriate financial, legal, accounting, tax and other advice.

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We do not represent that:

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To the extent permitted by law, neither we nor any member of the Harrison Rowe Group shall be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with:

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The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.

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In order to use the Site or one or more parts of it, you may be required to become a registered user. In order to become a registered user we will issue you with one or more of the following, namely, registered username, password other security identifier (‘Password’) in accordance with our procedures in place from time to time.

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You must tell us immediately of any unauthorised access to the Site using your Password or any unauthorised transaction or instruction which you know of or suspect of if you suspect someone else knows your Password. We will need you to help us and any law enforcement agency in trying to recover any losses. We may disclose information about you or your account to a law enforcement agency or other third parties if we think it will help prevent or recover losses.

You are wholly responsible for use of the Site by any person using your Password.

We reserve the right to suspend access to the Site in the event that we suspect that an unauthorised person is attempting to access the Site using your Password.

Your obligations

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Internet and e-mail communications

Messages sent over the Internet (including e-mail) cannot be guaranteed to be completely secure as they are subject to possible interception, monitoring, delay, loss or alteration.

Neither we nor any other member of the Harrison Rowe Group are responsible for any such messages nor liable to you or anyone else for any damages or otherwise in connection with any messages sent by you to us or any other party or any messages sent or appearing to be sent by us or any third party to you over the Internet (including e-mail). You should not include any sensitive or confidential information in such messages.

Our monitoring of communication

To help us improve our service and in the interest of security, we may monitor and/or record communications (whether over the Internet, telephone or otherwise) between you and us. All recordings are our sole property.

Data protection and Privacy

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Governing Law

These Terms are governed by and are to be interpreted in accordance with the laws of UK.

The courts in England and Wales will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of this Site.

Weekly Market Update June 16th 2019

Markets rise as trade tensions ease, and weak US inflation data raises rate cut expectations

Markets rise as trade tensions ease, and weak US inflation data raises rate cut expectations

Both equity markets and bond markets made further gains this week, as President Trump of the US reached a deal with Mexico on migrant flows, rowing back from tariff threats. Added to this, weaker than expected inflation data gave weight to a July interest rate cut in the US. However, markets were looking to finish the week on a weak footing after the latest Chinese factory output data showed the weakest growth in 17 years, coupled with the US blaming Iran for attacks on oil tankers in the Gulf of Oman, heightening tensions in the region.

Over the week, to 12 pm London time, the US S&P 500 index rose 0.6% and the technology-focused Nasdaq rose 1.2%. The EuroStoxx 600 was flat at 0.1%, whilst the UK’s FTSE All Share fell 0.2%, the latter being impacted by a sell-off in the more domestically focused FTSE 250, which fell 0.7%, as Boris Johnson looked increasingly likely to be the next UK Prime Minister, with the threat of a hard Brexit not far away. The Japanese Topix rose 0.9%, whilst the Australian S&P/ASX 200 rose 1.7%, not far away from breaking its record high, set way back in 2007. At a headline level, emerging markets rose 1.5%, with the Chinese Shanghai Composite rising 1.9%, as global trade tensions eased and Beijing encouraged local governments to use special bonds to finance major projects in an effort to support economic growth.

Weak inflation data supports government bond markets

Weak inflation data supports government bond markets

Developed market government bond yields continued to plumb new depths as continued weakness in global growth has raised expectations of monetary policy easing.  10-year US Treasury yields (prices move inversely to yield) fell over the week, currently trading at 2.06%, close to a 21-month low, and the UK gilt yield fell to 0.83%.   Eurozone investor inflation expectations, as measured by inflation swaps, fell to 1.14%, the lowest level since the index began in 2003.  This has put pressure on the European Central Bank (ECB) to launch further stimulus, leading to the German Bund yield hitting a new record low of minus 0.27%.  On Thursday, the German government issued €22bn worth of 10-year German bunds at a yield of minus 0.266%, this offer was over subscribed by 1.6 times!  However, to put this into context, the ECB charges banks minus 0.40% to hold reserves.

Weak US inflation adds to rate cut expectations

Weak US inflation adds to rate cut expectations

US consumer price inflation came in weaker than forecast at 1.8% for the year to the end of May, versus 2% in April and forecasts of 1.9%. Expectations are growing for a US rate cut in July, with the Fed having moved from a tightening cycle at the end of 2018, to a wait and see holding pattern year to date, with increasing comments from various Fed governors pointing to an increasing probability of a rate cut.

Australian equities within touching distance of a new record high

Australian equities within touching distance of a new record high

Australian equities got within touching distance of setting a new all-time high this week, last set back in 2007, making this the longest period the Australian market has taken to recover following a bear market. Mining stocks were the main catalyst, after iron ore exceeded $US104 a tonne, further boosted by the Royal Bank of Australia’s interest rate cuts.

Attacks on oil tankers arrest crude oil’s slide

Attacks on oil tankers arrest crude oil’s slide

The attacks on oil tankers in the Gulf of Oman provided a reprieve to sliding oil markets this week, as Brent crude oil bounced off $US59.8 a barrel on Wednesday, now trading at $61.4. Similarly, US WTI (West Texas Intermediate) bounced off a low of $US51, now trading at $US52. This is a fall of just under 18% for Brent since April and fall of just over 21% for WTI, putting it into bear market territory. The weakness in the oil price is due to increasing supply from the US bridging the gap with OPEC’s (Organisation of the Petroleum Exporting Countries) supply cuts, and the weakness in the global economy.investments”.

Issues Under Discussion

Issues Under Discussion

Markets continue to be plagued with uncertainty with threats of more trade sanctions and tit for tat tariffs between the US and China further threatening to derail global growth. In Europe, Italy’s populist government is having a running battle with the ECB and in the UK, the Brexit Saga appears to be never-ending. These uncertainties have weighed on global equity markets and have had a detrimental effect on global growth with policymakers now muting monetary easing amongst major economies. Many of these issues could abruptly come to end as we approach the US elections and the Brexit deadline nears; however until we have clarity, these issues will continue to drive market volatility.