Everything you need to know, Simplified! Summary President Trump nominated Kevin Warsh as the next chair of the US Federal Reserve (Fed), a pick which eased concern over central bank independence and sent gold and silver prices falling heavily The Fed kept rates unchanged, in line with expectations, and US equities were broadly flat on the week as markets digested falling consumer confidence, steady employment data and a rebound in durable goods orders European equities were

Everything you need to know, Simplified! Summary UK Prime Minister calls for calm as EU leaders consider retaliatory tariffs in response to US pressure over Greenland US inflation stayed the course at 2.7% whilst European inflation eased to 2.0%, returning to target Taiwan Semi-Conductor sparked another leg up in the Artificial Intelligence (AI) rally on strong earnings momentum Silver prices reached all-time highs, but faced mid-week volatility on ‘critical metal’ tariff exc

Everything you need to know, Simplified! Summary The US Department of Justice (DOJ) launches criminal investigation into the US Federal Reserve (Fed) Chair Jerome Powell over US$2.5bn renovation of the Fed’s headquarters Fed Chair Jerome Powell fires back saying the Fed won’t be swayed by “political pressure or intimidation” Gold hits fresh high as investor pile into safe havens among ongoing geopolitical upheaval More broadly, global economic outlook for 2026 is constructive

Everything you need to know, Simplified! Summary US equities briefly reached new highs following the Federal Reserve’s (Fed) latest interest rate cut, but gains faded as renewed scrutiny of tech valuations weighed on sentiment The Fed moved towards a neutral stance, ending quantitative tightening and shifting to maintaining its balance sheet rather than restricting liquidity Despite the market ’s dovish interpretation, the Fed remains internally divided and strong growth, fis

Everything you need to know, Simplified! Summary Equities were steady in a quiet data week, with sterling strength trimming international gains while broader sentiment remains firm The US Federal Reserve (Fed) is expected to cut interest rates this week, though strong nominal growth argues for a higher policy floor even as softer labour and rate-sensitive sectors justify an initial move Kevin Hassett is seen as the frontrunner for Fed Chair, pushing short rates lower and long

Everything you need to know, Simplified! Summary Rachel Reeves delivered a smorgasbord Autumn Budget, opting for multiple small tax rises rather than one clear revenue anchor - a strategy that soothed Labour backbenchers but muddied the market signal The fiscal mix front-loads spending and defers the pain, pushing the tax burden higher while leaving structural issues untouched Risks to the UK’s high-earning base are rising, with the policy direction edging further down the w

Everything you need to know, Simplified! Summary Criticism toward Artificial Intelligence (AI) accounting assumptions is building as AI-linked equities have begun to underperform a constructive wider market backdrop Hedge fund manager Michael Burry has highlighted concerns over depreciation assumptions on AI capital expenditure (AI capex), arguing that overstated asset lives risk flattering near-term earnings UK gilt yields rose sharply after reports that income tax hikes may

Everything you need to know, Simplified! Summary Rachel Reeves is signalling further substantial tax rises despite previous assurances, raising the risk that the UK pushes further onto the wrong side of the Laffer curve (an illustration showing the relationship between tax rates and tax revenue), depressing investment and long-term growth Reform has shifted towards a more fiscally constrained, pro-growth stance, with proposals focused on reducing public sector bloat and dereg

Everything you need to know, Simplified! Summary The top ten stocks in the US 500 now make up over 40% of the index, far above the 26.7% peak during the dot-com bubble - market leadership has rarely been this narrow The equally weighted index lagged the market capitalisation-weighted version by 2.7% last week as seven of eleven sectors fell, yet a handful of megacap tech stocks pulled the benchmark to new highs Earnings remain strong, with forward earnings per share (EPS) h

Everything you need to know, Simplified! Summary UK inflation undershot expectations, sparking a rally in gilts (UK government bonds) and small and mid-cap equities as markets priced in an increased probability of Bank of England (BoE) rate cuts Gilts have performed well in the last few weeks, with the 10-year yield falling from 4.75% on 9 October to 4.43% today US inflation also came in lower than expected, boosting expectations on near-term Federal Reserve (Fed) rate cuts d

Everything you need to know, Simplified! Summary Despite strong bank earnings, financials underperformed and were the only sector to fall over the week, as sentiment weakened and the VIX (measure of uncertainty) spiked to 28.3 Concerns over bankruptcies at Tricolor and First Brands sparked fears of stress in subprime lending (higher risk loans) and the opaque US$3trn private credit market Larger, more robust banks outperformed as credit and equity markets showed few signs of

Everything you need to know, Simplified! Summary Global equities fell 2.1% over the week as trade tensions between the US and China reignited, ending a six-month truce and unsettling risk sentiment China tightened control of rare earth exports, prompting President Trump to threaten 100% tariffs on Chinese imports and new export controls on critical software The escalation came at a delicate moment, with the US labour market cooling and China grappling with weak demand and def

Everything you need to know, Simplified! Summary Global equities pushed higher as investors looked past the US government shutdown, focusing instead on resilient growth, strong earnings and an increasingly supportive policy backdrop High valuations remain sustainable in the absence of recession risk, with markets confident that earnings growth can justify current multiples Healthcare led gains after a sharp policy-driven rebound, offering a more attractively valued counterbal

Everything you need to know, Simplified! Summary Gold hit a record US$3,788/oz, up 44% this year, with silver also performing well Demand for non-fiat assets – those not issued by a government - has risen as nation’s fiscal positions have deteriorated with US debt costs now exceeding defence spending, a historic marker of structural decline Persistently high inflation underscores the risk of fiscal erosion, driving central banks and investors toward gold, commodities and othe

Everything you need to know, Simplified! Summary Global equities are defying September’s seasonal weakness, up 3.4% in September (GBP...

Everything you need to know, Simplified! Summary Treasury Secretary, Scott Bessent, has published a paper titled “The Fed’s New...

Everything you need to know, Simplified! Summary UK 30-year gilt yields jumped to 5.73% midweek before easing to 5.50% after Bank of...

Everything you need to know, Simplified! Summary UK may be drifting to the wrong side of the Laffer curve (explained below), with record...

Everything you need to know, Simplified! Summary Global markets were primarily driven by a significant shift in tone from the US Federal...

Everything you need to know, Simplified! Summary US inflation data was mixed, with CPI cooling but producer prices rising 0.9% in July...