Lower-than-expected Q2 US GDP data yesterday added to investors’ hopes that the Fed might take a breather in its hiking cycle. Stock markets might have rallied in response but they are still set to end August lower. China’s official manufacturing purchasing managers’ index data came out below the magic 50 mark, indicating the economy is still contracting, but some Chinese building and AI companies were given a boost by positive sector news. Meanwhile, UBS announced record-breaking Q2 results. Our Head of Next Generation Research, Carsten Menke, explains that something does glisten more than gold (spoiler alert: it’s US Treasuries) and Nicolas Jordan from CIO Strategy & Investment Analysis joins us to share what our Investment Committee makes of the ‘unbelievable strength of the US economy’.

00:00 Introduction by Helen Freer (Investment Writing)

00:35 Markets wrap-up by Bernadette Anderko (Investment Writing)

07:36 Gold update by Carsten Menke (Head of Next Generation Research)

11:41 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis)

15:19 Closing remarks by Helen Freer (Investment Writing)

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