True Potential Morning Markets

Matt Henderson, Portfolio Manager, looks at ‘liberation day’, in which the tariffs announced by President Donald Trump will take effect immediately. However, there is still an ambiguity and uncertainty to the terms of the tariffs that take effect today, and the headlines are beginning to reflect in US economic data, prompting action from US firms.

George Bell, Portfolio Manager, looks back at the first quarter of 2025 which saw a pickup in volatility across markets, driven by geopolitical tensions, trade policy shifts, and evidence of cooling economic demand.

Kevin Kidney, Head of Investments, looks back at the recent market disruption that President Trump’s fiscal policy has caused ahead of further tariffs going ahead this week. Headline US jobs data will also be released this week which is expected to reflect the administration's recent actions with further impacts from DOGE (Department of Government Efficiency) on the horizon.

Paul Durrans, Investment Director, and Joe Forward, Investment Analyst, look at the key drivers and events which have impacted markets this week. Tariffs continued to dominate the market outlook, with a surprise 25% tariff on all US auto imports. Closer to home, they discuss the consequences from the Spring statement, as well as the more encouraging UK inflation and retail sales.

Matt Henderson, Portfolio Manager covers the new announcement from the US which will place a 25% tariff on all automobile imports and subsequently all manufacturing components. The US technology sector is already reacting to broader tariffs possibilities as well will include semi-conductors which are essential to their business.

Sebastian Mackay, Investment Director, looks at the newly released February inflation figures for the UK, which have come in at 2.8%, and below expectations. While this may take some pressure off Chancellor Reeves, the Bank of England believe that we’re not out of the woods yet, and keen interest will be on comments made in today’s Spring Statement.

George Bell, Portfolio Manager, discusses yesterday's strength in the US stock markets, driven by technology companies and positive investor sentiment surrounding the potential for a softer and more targeted tariff policy from President Trump. In the UK, manufacturing experienced its sixth consecutive month of contraction, whilst the services sector remains in robust health.

Kevin Kidney, Head of Investments, looks into the current forecast for the UK Spring Statement which takes place later this week, and the challenges and restrictions the Labour Government face with fiscal policy moving forward.

George Bell, Portfolio Manager, and Faye Graham, Investment Analyst, look back at a week when several major central banks held meetings on interest rate decisions, provided insights into economic projections, and revised inflation expectations. The team also looks into the shift in market attention from interest rates to tariffs, fiscal policy, and Chinese technology

Sebastian Mackay, Investment Director, breaks down the Federal Reserve’s decision to hold interest rates at 4.5%, what motivated the decision, and the fundamental shift in financial markets which is seeing other factors have a greater influence and pushing interest rates to the side.