Some random thoughts about individual trusts and markets.

Market overview

If the global economy is to avoid the hard landing that the markets seem to have convinced themselves it can, then it will be running in the face of some very strong historical experience. It is not just the inverted yield curve that has been flashing a warning about trouble ahead; all the leading economic indicators in the most widely followed series American investors follow have been suggesting a recession is coming, as the chart below suggests.

This series of the ten most important leading indicators that dates ...