Paul Durrans, Investment Director, and Sam Elliot, Investment Analyst, discuss the extension of President Trump’s tariff deadline, as well as the letters sent to countries stating new tariff rates should no agreement be reached before August 1st. They also cover the market reaction to this week's tariff developments and the recent economic trajectory of the UK.

Kevin Kidney, Head of Investments, discusses the current state of the UK’s fiscal predicament and the position Chancellor Rachel Reeves finds herself in as she meets resistance from Labour MP’s in her efforts to restore public finances. Regardless of sticky inflation, around 3%, the direction of travel is clear for the Bank of England and interest rate cuts are still likely in the coming months.

Paul Durrans, Investment Director, discusses the major legislative victory for President Trump with the passing of the ‘Big Beautiful Bill’ and what that could mean in the short and long term for the US economy. This week however, investor attention will be focused on tariffs, as the postponement of reciprocal tariffs comes to an end and global trading partners decide on whether they can come to a deal with Trump.

Matt Henderson, Portfolio Manager, and Joe Forward, Investment Analyst, discuss the rise in global equities, the imminent tariff deadline, as well as the US non-farm payroll data which surprised to the upside.

With the first US earnings announcements coming in since the tariffs, we also look at the impact of policy so far.

Sebastian Mackay, Investment Director, discusses the significant drop in the value of the US dollar this year and the challenge to its status as the global reserve currency.

Paul Durrans, Investment Director, discusses the strong global equity performance, with US equities reaching a new all-time high after the recent trade agreement with China. Despite geopolitical and tariff tensions easing, the US inflation report came in hotter than expected, and the attention will now turn to the employment data, which will play a key role in the Federal Reserve’s interest rate decisions moving forward.

George Bell and Matt Henderson, Portfolio Managers, discuss positive returns for assets markets, how conflict has impacted oil prices, as well as US trade deals with China, and corporate earnings and inflation.

Sebastian Mackay, Investment Director, discusses the rebound in equity markets this week, following the peace deal between Israel and Iran, and the importance of looking past headlines and focusing on fundamental drivers of investment.

Kevin Kidney, Head of Investments, discusses the elevated global oil price and global equity fall due to the escalating conflict between the US, Israel and Iran. As we look ahead to this week, we will see inflation prints across Europe that are expected to reflect a benign or disinflationary trajectory, as well as US core inflation data.

Paul Durrans and Sebastian Mackay, Investment Directors, discuss the recent central bank meetings that have been taking place this week, with the Bank of England choosing to hold interest rates and the Federal Reserve updating their economic projections into 2026.