Up 9.5% over 12 months, the Liv-ex 100 Fine Wine Index (below) has clawed back some of last year’s losses, when the industry’s main benchmark index fell 14.6% in 2008. So should you be piling into the fine wine market?

Former Federal Reserve Chairman Alan Greenspan told the Financial Times today that, “I still believe there is a greater than 50 per cent probability of recession.” But, “that probability has receded a little and I think the probability of a severe recession has come down markedly”.