Advertise on podcast: Markets Explained

In this week’s podcast, Hugh is joined by special guest Jon Ingram, Head of the Unconstrained team within the International Equity Group. With mega-cap tech earnings having been met with disappointment by the market so far, Hugh and Jon unpack what investors most want to hear from company management on AI capex, as well as how France’s political volatility is impacting European stocks.

The news flow this week, whether from highly indebted data centre builders or the French riots, is a reminder that higher bond yields will always create stress somewhere.

In this episode, Hugh and Karen dive into the upcoming earnings season and highlight the questions on their minds in the tech space and beyond.

The US labour market could have added fuel to the bond market fire last week, but in fact it still looks broadly stuck in a ‘no hire, no fire’ pattern. With more and more oil leaving the Strait of Hormuz, one might also have expected the bond market to calm down. Hugh and Karen share their initial thoughts on what’s still worrying the bond market.

On this week’s podcast, Hugh and Karen discuss the latest developments in the oil markets, including talk of diesel export curbs. They also highlight why the rise in bond yields has more to do with the resilience of economic growth than with inflation, and why equities are, so far, unfazed.

In this podcast, Hugh and Karen pick up on the latest political headlines from both Germany and the Middle East. They remind us why the economic implications are often far more sanguine than the political headlines would suggest, and why the bond market will act as the disciplining force, serving as judge, jury and sometimes executioner for bad politics and bad policies. The equity market, meanwhile, continues to ride the wave of economic resilience.

Lots to discuss again this week, with conflict raging on in the Middle East, central banks under pressure to raise rates and bond markets still unsettled.

In this week's podcast, Karen and Hugh discuss the latest flurry of economic news which suggests the global economy is weathering the barrage of shocks thrown at it. They also share their immediate reaction to the new UK Chancellor of the Exchequer’s first speech and ask: having talked the talk, can the Chancellor turn those words into effective policy action?

Bond markets are off to a bumpy start in September with government borrowing costs rising sharply around the globe. In this week’s podcast, Karen and Hugh break down what is troubling bond investors, how policymakers may respond, and whether equity investors need to worry.

This week, Karen and Hugh discuss recent strong economic data and lingering inflation concerns that are pushing up bond yields. They then delve into what to make of the bond market interventions we’re increasingly seeing from finance ministers and treasury secretaries who are grappling with higher interest rate costs.

The market is wrapping up a stellar earnings season with growth broadening by geography and sector. No wonder markets keep hitting all-time highs. Karen and Hugh break down the earnings news and discuss what the macro data suggests about the outlook from here.

In this week’s episode, Karen and Hugh reflect on the outlook for inflation and the Middle East, what the earnings season tells us about the broadening of opportunities, and why it’s a good time to invest despite the geopolitical turmoil.

Following a busy week for central banks, Hugh was joined by Iain Stealey, International CIO for Global Fixed Income, Currency and Commodities, to dissect the recent rate decisions and look at where global government bond markets are offering the best value. The pair also discussed last week’s US earnings reports, as well as why markets may be especially sensitive to this week’s US labour market data.

It’s a big week for central banks, with the Federal Reserve, Bank of England and Bank of Japan all meeting. Karen and Hugh expect policymakers to talk tough as they seek to reassure markets that rising oil prices will not lead to another inflationary spiral. They will also discuss the latest learnings from the US earnings season.

This week Hugh was joined by another special guest – Callum Abbot, UK equity portfolio manager and Head of Systematic Active Core Strategies – to discuss last week’s earnings results, which parts of the UK stock market could be most impacted by new political leadership, and whether the European Central Bank might surprise investors later this week.