While we believe tariffs may put some upward pressure on inflation, we do not expect the overall impact to be large enough to influence the direction of interest rates.

The narrowing of corporate and government bond yields raises the question: is the riskier option worth a marginally better yield?

A low bar coming into this earnings season meant the US exceeded expectations due to muted tariff impact and growing demand for artificial intelligence (AI). Read our latest CIO update.

The UK is the third largest AI market in the world, last valued at over £72 billion and part of a wider $1 trillion tech market. Investors are bought into the opportunity, with AI companies here having raised more than double their competitors in France and Germany – putting the UK in a position to be Europe’s dominant AI power.

The US central bank is yet to reduce interest rates this year amidst the current rate cutting cycle. But with the future of inflation unknown, could the next interest rate decision leave markets – and the President – unhappy? Read our latest CIO update.

Against a backdrop of strong corporate earnings and anticipated rate cuts, global equities remain attractive. Read our latest monthly update.