This month, Tony is joined by Giles and Roohi for a wide-ranging discussion on the economic and market developments shaping investor sentiment. They explore the potential impact of the upcoming Federal Reserve decision, the legal uncertainty surrounding US tariffs (1:40) and the implications of rising government bond yields 19:45).

Our experts also discuss NVIDIA’s (14:55) recent earnings and what they might reveal about the monetisation of AI, as well as the resilience of equity markets amid ongoing macroeconomic challenges. Roohi provides valuable insights into consumer behaviour (5:50) across income cohorts and regions, highlighting areas of strength and concern from the US to Latin America, Europe and India.

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features Tony Whincup, Head of Investment Specialists in conversation with Giles Parkinson, Head of Equities and Roohi Siddiqui, Head of Equity Research.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, it does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

In this episode, James and Giles take a closer look at the key market moments from July - starting with the latest wave of global trade tariffs (1:33). With President Trump’s 1 August deadline now behind us, over 90 countries are facing higher tariffs… yet markets are still pushing higher. So, have we moved past peak-tariff uncertainty? 

Our experts also dig into the US economy, where tensions between President Trump and Fed Chair Jerome Powell continue to bubble (7:15). With fresh GDP and labour data backing calls for looser monetary policy, could the Fed be falling behind the curve? And what impact might Trump’s “Big, Beautiful Bill” have on the growing budget deficit? (10:50) 

Back in the UK, we saw a mixed picture in July (12:05). Slowing manufacturing is weighing on growth, but strong earnings have helped lift equities. James and Giles explore how inflation, jobs data and rising debt costs are shaping policy outlook. Plus, they reflect on Rachel Reeves’ recent Mansion House speech and what it didn’t reveal (15:05). 

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

This month, James and Giles discuss global equity trends for June which delivered some surprises considering recent geopolitical tensions and tariff uncertainty (1:10). Our experts consider potential rate cuts from the Fed later this year, after we saw subdued inflation and a weakening dollar in the US in June (2:30). 

James and Giles shift their focus to the impact – or lack thereof – of a turbulent Middle East upon global markets (5:06). Markets largely shrugged off the brief Israel-Iran conflict we saw in June, with oil prices spiking temporarily but stabilising following a ceasefire brokered by the US. 

Looking at home shores, we dive into the UK government’s Spending Review which revealed modest increases for health, education and defence, but cuts elsewhere (6:55) and look ahead to what might happen in the Autumn budget later this year.

Finally, Jon and James discuss the growing interest in private market assets and explore historical performance, growing accessibility for investors, and the impact of changing market conditions on this sector (9:50).  

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities and special guest, Senior Equity Analyst, Jon Kirk.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

In the first episode of this series, we dive deeper into the research and predictions explored in our Shifting Demographics report. 

Professor Sarah Harper CBE, Director of the Oxford Institute of Population Ageing and Charlie Willans, report co-author and Head of Responsible Investment, discuss the trends in population ageing across the world, the opportunities it creates in emerging economies and the risks for China, as well as the implications for labour supply and climate change.  

Professor Harper is an industry leading expert on demography and gerontology. Her highly regarded book, How Population Change Will Transform Our World, explores how fertility rates and age structures of populations in different regions of the world are likely to affect societies, economies and the environment in the future. 

This podcast is brought to you by TrinityBridge – trinitybridge.com. 

In this audio segment from our recent Insight Matters publication, our experts explore the new frontier of the weight loss industry.

Read the full report here: Insight Matters report, Spring 2025 | TrinityBridge

The obesity drugs sector, forecast to be worth somewhere in the region of $150-200bn per year by 2035, has garnered an ever-increasing amount of attention in recent years. And as our understanding of the link between obesity and other health conditions has increased, so too has the demand for treatment using these drugs. James Tulloch met with Jon Kirk to assess this fascinating and fast-evolving area and discuss how both the growing demand and the ongoing evolution of these drugs might shape the market in the future.

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Jon Kirk, Senior Equity Analyst. 

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

This month, James and Giles dive into market events we saw over May (1:22). In the US equity markets extended their recovery from April’s lows and we saw easing trade tensions post Donald Trump’s “Liberation Day”. They also discuss the positive market reaction we’ve seen post the US Court of International Trade striking down most of Donald Trump’s sweeping trade tariffs (1:54). 

James and Giles turn their attention to in the UK and explore the deals on trade and relations (12:35) which brokered with India, the US and the European Union – termed a “Brexit reset” – in May, and our experts explore last month’s much anticipated interest rate cut from the Bank of England (15:50).

Finally, our special guest Sam talks James through key market themes and developments we’ve seen within the UK and the UK Smaller Companies Alternative Investment Market (17:12).

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities and special guest, Senior Investment Director, Sam Barton.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

Our experts dive into the topic that is currently on everyone’s mind – Trump’s tariffs – and consider the aftermath of the global market reaction which we saw in April (02:10). James and Giles discuss US currency reaction (07:16) to the announcements and the potential impact on global economic growth we may see into the future.  

Roohi and James (14:20) explore recent consumer trends in sectors like the luxury goods market (17:49) against a market backdrop dominated by the uncertainty of US tariff announcements. We also look at changing consumption trends we are seeing in the beverage alcohol industry (19:42) and the impact this might have on beverage alcohol companies into the future.  

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities and special guest, Head of Equity Research, Roohi Siddiqui.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

This month, Tony and Giles consider President Trump’s tariff announcement out of the US, and discuss the fallout from so called ‘Liberation Day’ (01:37). Our experts go beyond the headlines and consider the market reaction to this geopolitical news both globally and here at home (05:45).  

Valeria and Tony discuss recent trends in open-source generative AI and what the arrival of DeepSeek on the scene might mean for the industry. We consider how the adoption and acceleration of this technology may affect markets and geopolitics in the short and long term (14:10).  

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features Tony Whincup, Head of Investment Specialists, in conversation with Giles Parkinson, Head of Equities and special guest, Deputy Head of Equity Research, Valeria Moore.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

In this episode, James and Giles discuss global equity markets, the uncertain path of tax, spending and tariff policies in the US, and the inflation and growth implications of these. They also consider the Trump Administration’s recent budget plan for tax cuts and spending that we saw towards the end of February.

Our experts also explore the apparent trends of protectionism and economic nationalism, and how they might be affecting growth forecasts.

James and special guest Matthew discuss and the current the landscape for income investing, and how it may be affected by cyclical interest rate trends.

This podcast is brought to you by TrinityBridge – trinitybridge.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities and special guest, Head of Collectives, Matthew Stanesby.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly. 

In this episode, James and Giles discuss the public release of new AI chatbot app, DeepSeek and the dramatic effect we saw this have on US technology sector stocks in recent weeks. 

James and special guest, Andrew, discuss recent local and global market impacts on UK Government Bond (or Gilt) markets. 

Finally, our experts explore the aftermath of a second Trump Inauguration, including much anticipated trade tariffs, and how the UK Government is faring post a lukewarm market response to October’s Autumn Budget. 
  

This podcast is brought to you by Close Brothers Asset Management – closebrothersam.com – and features James Tulloch, Senior Investment Specialist, in conversation with Giles Parkinson, Head of Equities with special guest, Andrew Metcalf, Head of Fixed Income.

We’ve created this podcast to set out possible approaches. Please do not view it as financial advice, or its content as investment recommendations. Just because an investment or an investment strategy has performed well in the past, does not mean it will continue to do so. Our predictions are based on information that is currently available, however events and markets can and do change rapidly.