Time in the Market

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...

In the latest ‘award-winning’ Ben Squared Podcast, we offer insight on how the heavy stream of geopolitical news-flow is impacting markets, and where (as an investor) it may be most appropriate to focus one’s attention. We also offer glancing analysis on the latest US Jobs Report and what this may mean for the imminent US interest rate decision? This podcast is for UK Professional Clients Only. Ca...

In the latest ‘award-winning’ Ben Squared Podcast, we offer insights on how one might manage the constant flow of policy updates from the incoming US Administration, considering how an immediate reaction may not always be best practice. From there we discuss motivations for trade policy and the extent to which tariffs might have a durable impact on inflation. We close out with comments related to...

This month we welcome Rob Wood from Pantheon Macro to discuss the condition and forecasts of the UK Economy. Rob has a glittering CV including time spent at the Bank of England supporting the Monetary Policy Committee in its policy deliberations. More specifically up for discussion is the fiscal agenda, the outlook for the UK consumer, what next for inflation and monetary policy, and how the UK’s...

In the latest ‘award-winning’ Ben Squared Podcast, we offer key takeaways on 3rd Quarter Earnings Season, including Nivida which traditionally concludes the seasonal reporting; and has the potential to make a significant impact on markets*! We also take some time to review Trump’s Treasury Secretary Nomination and the recent excitement in the sphere of Crypto currencies. This podcast is for UK Pro...

Post the emphatic victory of the US President-Elect, markets are scrambling to make sense of what the ‘Trump Trades’ actually are? This issue has been compounded by Trump’s immediate appointments and speculation over those to come. In this conversation we review market performance in light of our fundamental views, and the extent to which the Political Noise remains relevant? This podcast is for U...

Following the emphatic victory of President-elect, Donald Trump, we take the opportunity to discuss his intended policy agenda, the market reaction and what the more durable impact on investments may be? The investment conversation covers equity markets, bonds and currencies. This podcast is for UK Professional Clients Only. Capital at Risk. This podcast was recorded on 11th November 2024. Hosted...

Before it’s ALL eyes on the US Presidential Election we take this last, brief window to review the UK Budget. Welcoming both Ben Jones, our resident Director of Macro Research, and (special guest) Graham Hook, our Head of UK Govt relations, we discuss the raft of policy changes, the market reaction, what’s next for policy and our outlook for UK equities, gilts and the pound. This podcast is for UK...