Iran Conflict: Bulls vs Bears
(3 min read)

We are now three weeks into the US/Israel conflict with Iran. For investors, the outlook hinges on how long it lasts and when the Strait of Hormuz reopens. The key concern is oil prices and their impact on inflation, growth, business costs, and how central banks respond on interest rates.

Market Rotation is Well Underway
(3 min read)

For some time, global equity market returns have been driven by the mega cap technology stocks as AI has been the focus for growth and corporate profits. With policymakers firmly in expansionary mode, equity performance is now spreading and rotating into the broader market benefitting from strong economic growth the prospect of AI induced productivity.

Fool’s Gold
(4 min read)

The sharp rise and fall of the gold price in recent days was clearly fuelled by speculative flows. However, given the potential for geopolitical and economic policy errors in the US, gold should still remain a core holding in portfolios.

Geopolitical Strain vs Macro Optimism
(4 min read)

As 2026 gets underway, the somewhat bizarre theme of alarming geopolitical headlines combined with a promising macro-economic outlook and exciting investment opportunities continues.

‘Buy Now, Pay Later’ — Budget 2025
(3 min read)

A conventional, tax-raising budget offered limited ambition for growth. Market reaction was muted, while compelling UK equity valuations reinforce long-term opportunities despite a sluggish economic backdrop.

Diversification Delivers
(4 min read)

Markets have delivered positive returns so far this year despite numerous uncertainties. Big UK and US companies have led most of the gains, while alternatives have added steady support and gold has been the star performer. We explore how clients’ portfolios have fared.

Markets extend gains
(4 min read)

Markets have remained resilient despite geopolitical and policy turmoil. While valuations are driven by mega-cap tech and rising gold prices, diversification remains key as investors navigate uncertainty, fiscal constraints, and cautious central banks.

Crunch time for the gilt market
(4 min read)

The Autumn budget is set for 26th November 2025. The Chancellor is again faced with a significant challenge in persuading financial markets that she can balance the books, while long-dated government borrowing costs surge to levels not seen since 1998.

The BoE’s One and Done
(3 min read)

What does a split committee and the first re-vote in the MPC’s 28-year history tell us about the Bank of England’s latest interest rate cut to 4.0%? With the Autumn budget in a little over two months’ time, we’ll find out soon enough.

Trump's Dollar Devaluation
(4 min read)

A key priority of President Trump’s has been to address the trade deficit with the rest of the world. Could a weaker US Dollar be the start of a longer-term trend or a deliberate policy tool by the Trump administration?

US Economy in Equilibrium
(3 min read)

With inflation easing and employment near target, the Fed’s dual mandate appears balanced — offering rare calm amid global economic noise. We explore what this means for investors and why quality assets and short-dated fixed income may be the winning combination.

Warren Buffett is bowing out. Good timing?
(4 min read)

Is Warren Buffett’s retirement and Berkshire Hathaway’s record $347bn cash pile an indication of tough market times ahead or an example of the strength of corporate balance sheets. Uncertainty and a slowdown in US economic growth is likely to test private sector resilience.

Trump Tariffs & Trade Wars
(4 min read)

Following President Trump’s ‘Liberation Day’ global tariff announcement, another layer of complexity has been added not seen since the 1930s. Markets, at the time of writing, have reacted badly to the prospect of a prolonged trade war.

The Importance of Diversification
(4 min read)

The start of 2025 has been testing as investors try to digest the news flow, dominated by politics, and what it all means for the global economy and markets. One comment doing the rounds again is that we should take President Trump seriously but not literally.

Gold Bubble or Sign of the Times? (4 min read)

The price of gold has recently appreciated dramatically, breaking through its all-time high in 2024 and pushing nearly 50% higher still in 2024 to approximately $2,900 per ounce at the time of writing. The question is where the price goes from here following such a performance.

Once Again, Beware the Headlines (4 min read)

Over the last few weeks, the UK media has been on the attack over the sustainability of Rachel Reeve’s fiscal policy. The c£10bn wiggle room the chancellor left in her October budget has all but evaporated and to balance the books she needs either to cut public spending or increase taxation.