True Potential Morning Markets

Matt Henderson, Portfolio Manager, looks at the initial equity market impact and policy response from Canada and China to President Trump’s tariffs. As the US withdraws military support from Ukraine, Germany plans to change fiscal spending rules to increase borrowing to boost its own military and assist Ukraine. In addition to this a 500bn Euro infrastructure fund is to be created which has positively impacted European equities.

Sebastian Mackay, Investment Director, looks at the realities of President Trump’s America first policy which has resulted in a swing in equity sentiment favouring Europe which is outperforming US equities by 15%. Despite a strong underlying economy in the US, doubts about tech superiority have dented consumer and business confidence with the Nasdaq down 5% year-to-date.

Paul Durrans, Investment Director, recaps on the recent weakness in global equities with headwinds from ongoing US tariff policy and soft US economic data. As we look ahead to this week, Friday's US labour market report will be key, with expectations that jobs growth continues to be healthy. The European Central Bank meet on Thursday with another interest rate cut expected, while China’s National People’s Congress meeting kicks off this week with economic growth projections expected to be unchanged despite the US tariffs. 

Paul Durrans, Investment Director and Faye Graham, Investment Analyst, cover the key developments this week which have influenced the recent spike in global equity volatility. Discussions range from Tariffs, Nvidia, softer US economic data and today's US inflation report.

Sebastian Mackay, Investment Director, looks at the price of gold which has recently hit new all-time highs. But can the price of gold continue to rise or does it face near term risks? 

Chris Leyland, Director of Investment Strategy, looks at the US consumer confidence data, why it has came in significantly below analyst expectations, and how it has affected equity and bond markets.

Kevin Kidney, Head of Investments, looks at President Trump’s heavy focus on foreign policy concerns despite it polling 14th in importance amongst voters. US Services PMI has fallen into contraction for the first time in 2 years and the inflationary tariff policies are fuelling the fire. Should Trump refocus on domestic policy to quiet the noise and steady the US economy?

George Bell, Portfolio Manager, looks ahead to a week packed with data illustrating the health of consumers internationally, inflation, business sentiment and the recent election in Germany.

George Bell, Portfolio Manager and Joe Forward, Investment analyst, look into the performance of global equities, the UK jobs market which has surprised to the upside and what is driving the increase of UK inflation. Further comments from President Trump on tariffs continue to drive uncertainty and the Federal reserve cite it as an inflation risk.

Sebastian Mackay, Investment Director, looks at why Europe is excelling in equity markets and challenging the narrative of US stock market outperformance which was widely expected after Donald Trump’s election and subsequent announcement of corporate tax cuts and tariffs.