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