Richard (Rich) Diaz

speaker

75 appearances 1 recordings 1 series first heard Dec 2019 last heard Dec 2019

Richard (Rich) Diaz’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Brexit: How Investors Can Make Money · 16 Dec 2019 podcast

We think a lot of this political stuff in the UK has had a really adverse effect on investor appetite for euro area assets.

Everyone understands that the UK just narrowly avoided a technical recession.

And that's, I think, largely to do with the uncertainty surrounding Brexit.

But now that that's

One hurdle is, I think, very much cleared.

Another one I mentioned is January 31st.

But investors need to look at is the pent up demand in CapEx.

CapEx has been flat since 2016 in real terms, which is frankly incredible.

But there's 800,000 unfilled jobs.

This is despite the fact that the economy has been very sluggish.

Wage growth is very strong at 3.5 percent nominal terms.

And inflation is falling and will continue to fall given the strength of the pound.

So real wages will be up and so will spending.

We look at the housing market, the RIC survey, the Royal Institute of Chartered Surveyors is improving virtually everywhere.

And we know that consumer confidence in the UK is tied to real housing prices.

And so there's actually a lot of good coming this way.

If the negotiations do well, I think UK is poised to outperform.

So obviously the UK is dominated by the service industry.

So there's about, out of those 800, 720,000 of those are unfilled service sector jobs.

But what's also remarkable is there's still 50 odd thousand manufacturing jobs.

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