Time in the Market

In the latest Ben Squared podcast we revisit the conflict between resilient hard data and despondent levels of sentiment within the economy. From there we reflect on how such challenges may shape central bank policy, before concluding with a review of our current investment strategy. This podcast was recorded on 6th May 2025.  *This podcast is for UK Professional Clients Only. Capital at Risk. Pas...

In another busy Ben Squared podcast we first reflect on Trump’s ‘remarkable’ first 100 days in office, before pivoting to (what appears) a further easing in trade tensions, before revisiting the challenge to US exceptionalism. We conclude with thoughts on the conflict between resilient hard data (such as Retail Sales) and collapsing soft data (such as consumer confidence). As always, the conversat...

In this latest Ben Squared podcast, and with markets continuing to struggle, we discuss the burgeoning concerns over recessionary risks, but also the extent to which there are positive offsets (if any?). From there we pivot to the increasing pressure being placed upon the Federal Reserve, and its Chair, by the US Trump Administration to cut interest rates. We conclude by bringing both elements tog...

In the latest episode of our award-winning podcast series we take a deeper dive into the Emerging Markets. As is usual, the primary focus is to gain a deeper understanding of economic conditions, and to review the investment opportunities and risks that currently present within the asset class. Joining to provide expert analysis, we’re delighted to welcome Chris Tennant, a highly regarded Emerging...

In this latest Ben Squared podcast we are compelled to continue the discussion on US Trade Policy as a gradual easing in the Trump Administration’s approach offers some relief to markets – at least in the very short-term. Of course, uncertainty remains over the final destination for tariff settings, and a discussion over recessionary threats is necessary. To conclude the conversation, a debate is...

In this latest podcast our focus remains on the fallout from US Trade Policy, analysing the degree to which recessionary risks have risen and the potential policy response. Discussions do not centre entirely on the US, however, indeed time is taken to review how other important regions are managing this challenge and executing their own fiscal agenda, independent of trade disruption. We conclude w...

In this special/bonus addition of the Ben Squared podcast, we discuss the market turmoil in response to the dramatic developments in US Trade Policy. The conversation begins with an analysis of the market reaction, and where it has been more or less rational, before turning to a broader debate on recessionary risks and the challenge for monetary policy decision makers. The conversation concludes w...

In this latest Ben Squared podcast we discuss the potential impact of US Trade Policy on regional economic activity and global markets, reflecting on both near term history but also (much) further into the past. We do not treat ‘Liberation Day’ as an isolated event, however, taking into context other important trends, particularly as it relates to relative fiscal policy. This podcast was recorded...

In this latest Ben Squared we begin by discussing the modest calm we are seeing in news flow and market performance, at least relative to a dramatic start to the year? We then pivot to a discussion on the Federal Reserve’s changes to its economic and interest rate projections, and the extent to which these are supporting/impeding market sentiment. Next we discuss capital flows, and the extent to w...

In this latest Ben Squared we begin by discussing the momentum behind the European/German fiscal expansion and market outperformance, and if there is scope for disappointment? We then pivot to discussion over US market performance and whether weakness can persist and how international markets may react. Finally, we revisit the utility of bonds in what (in very recent times) appears a breakdown in...

In the latest episode of our award-winning podcast series, and after a reasonable hiatus, we return to the topic of European Equities, arguably the hottest global equity market right now. Our expert guest is also a returning favourite, Oliver Collin, a European Equity Fund Manager at Invesco. The discussion is pretty far reaching, covering both economic and market conditions in light of the recent...

In this latest Ben Squared we begin by reflecting on current market jitters and whether this a moment to act with greater caution, or if there are sufficiently compelling reasons to hold one’s nerve. Following this, we take a closer look at Europe’s efforts to stimulate its economy, focusing on the policy announcements out of Germany. We then conclude with some US based analysis, reviewing whether...

In this latest episode we review the drama seen in The White House on Friday evening, reflecting on how it may (or may not) influence geopolitical trends and, of course, investment strategy. We then pivot to US data which, in some quarters, is starting to look a little ominous. To conclude we reflect on the (stark) relative weakness of US stock markets versus their European and Chinese counterpart...

In the latest episode of our award-winning podcast series, we return to the A.I. theme, focusing on the latest developments surrounding the DeepSeek ‘breakthrough’. Our expert guest is CIO of Thematic Innovation at Alliance Bernstein, Lei Qui, who first provides some educational insight into DeepSeek’s achievements, before offering a broader appraisal of the development costs and potential applica...

In this latest episode we review the weekend’s German election result, focusing on how it may influence the macro and investment landscape for both Germany and broader Europe. We then take a moment to review the sting in the tail for markets last week, in what was quite a vicious sell-off, particularly for the names in and around the Technology sector. We then conclude with additional commentary o...

In this latest episode we review the latest US inflation and retail sales data and the impact this is having on expectations for interest rate policy there. We then discuss the (rapid) developments we are observing on Europe’s eastern flank as the Trump administration makes its position known. As always, we tie this news flow back to investment strategy, with a focus on European markets this week....

In this latest episode we offer a neat summary of the most recent Trade developments from the new President, before pivoting to a review of the recent US Jobs Report and the potential consequences for policy. We then discuss the recent Bank of England interest rate decision and the ‘split-vote’, before concluding with some comment on recent earnings’ releases and how this is shaping investment str...

In this week’s episode we share our latest thoughts on the opening exchanges in Trump’s trade wars, attempting to keep listeners informed on an extremely fluid story. In addition, and in an attempt to combat this fast-paced story, we also offer some medium-term views given the likely impact of at least a modest increase in trade tariffs. We discuss the burden of payment, the inflationary consequen...

In this latest episode we analyse what could be a seismic moment in the Artificial Intelligence saga as DeepSeek, a potential ‘lower cost’ large language model from China, disrupts the higher cost incumbents. What does this mean for the current important/monopolistic actors, how could this impact the economy at large, and what does it mean for an investment strategy? This podcast was recorded on 2...

In the first of our award-winning podcast series for 2025, we focus on the drama infolding within bond markets, doing so with lauded Invesco bond fund manager, Stuart Edwards. Specifically, the conversations cover why bond yields are surging, what might be driving the recent acceleration in that sell-off and if there are any UK specific factors adding to domestic bond market volatility? Following...

In this latest episode we focus on this historic moment, where Donald Trump is sworn into the Presidential office to begin his second and final term. As investors, we specifically discuss what we may learn in the coming weeks about the new administration’s ‘market relevant’ policy priorities? We also take a moment to analyse the recent relief in bond markets and whether it can be enduring, before...

In this latest episode of the Ben Squared Podcast we focus on the dramatic events unfolding in the bond market. Specifically we address why yields are climbing, offer comment on the recent accelerated selloff, discuss UK specific challenges, before concluding with what we think may happen next? This podcast was recorded on 13th January 2025. *This podcast is for UK Professional Clients Only. Capit...

In this latest episode of the Ben Squared Podcast the focus is on our high-level expectations for regional equity markets and the major bond market segments in 2025. Before we get into the detail, however, we also offer some insight into the data released and choppy markets experience over the festive period. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does...

A fascinating pivot for the Podcast this month as we host none other than England World Cup winning coach, Sir Clive Woodward. In a prelude to his CPD lesson on the Invesco Intelligence Plus Hub, Sir Clive offers insight into how his career and sporting success has shaped his approach to Communication. Watch his module, the art of communication, here . This podcast is for UK Professional Investors...

In this, the 50th Episode of our ‘award-winning’ Ben Squared Podcast series, we review some of our major calls across 2024, reflecting on the degree to which they’ve played out successfully (or not), and if they still hold for 2025? Topics covered include equity market performance, central bank policy, political outcomes and whether we carry any (investment) regrets!? This podcast is for UK Profes...