True Potential Morning Markets

Paul Durrans and Sebastian Mackay, Investment Directors, discuss the backtrack on tariffs, the market impacts, as well as emerging information surrounding how companies are reacting to cost increases. They also cover the current positive UK economic growth and potential future headwinds.

Paul Durrans, Investment Director, discusses the continuing recovery in global equities which has the S&P 500 only 4% from its all-time high. The momentum shifts back to US equities is driven by US tech stocks which have been further supported by a reported $600 billion investment pledge from Saudi Arabia to increase access to cutting-edge AI technologies.

Matt Henderson, Portfolio Manager, discusses the most recent tariff updatefrom the US, which has seen a drastic reduction in the rates between America and China for a 90-day period. Following the UK trade deal and China tariff reduction, markets responded positively, but will the US be able to come to an agreement with China?

Paul Durrans, Investment Director, and Sam Elliot, Investment Analyst, discuss the key reasons behind the recent equity market stabilisation, the extended drop in oil prices, as well as an update on tariff policy and ongoing international trade negotiations.

Sebastian Mackay, Investment Director, covers comments from the Federal Reserve on increased risks to unemployment and inflation as they decided to keep interest rates unchanged. In contrast, the Bank of England may have scope to accelerate their interest rate cutting cycle as inflation risk subsides.

Matt Henderson, Portfolio Manager, looks at the recent data coming out of  the US and Europe that points to a divergence in inflation trajectories. With upcoming central bank meetings taking place this week, this should shed further light on future policy. China also has import/export data releasing, which could show impacts from ongoing tariff policy. 

Paul Durrans, Investment Director, and Matt Henderson, Portfolio Manager, discuss the continuing rebound of equity markets, and the major drivers behind it. They also look into the corporate earnings reports which show several major technology companies exceeding earnings expectations, as well as the raft of US data released this week which sheds light on the health of the US economy.

Sebastian Mackay, Investment Director, looks at the recovery of global equities after the initial tariff shock, the subsequent rollback on the policy, and how this has affected analysts forecasting earnings into 2026.

Kevin Kidney, Head of Investments, looks to the week ahead, in which a raft of US data on GDP, jobs, and wage growth data should give an indication of economic trajectory with ongoing tariff disruption.

Sebastian Mackay, Investment Director, and Matt Henderson, Portfolio Manager, look at the backtracking of Trump tariffs, the correction in the US tech sector and how that could impact the S&P 500, and provide an insight into what extent gold has replaced US treasuries as a diversifier for equities.

Kevin Kidney, Head of Investments, focuses on the increase to UK borrowing seen in the figures for March, the slow growth impulse, and the challenges that it presents for Chancellor Rachel Reeves in steering the UK economy in the right direction.

President Trump is urged to "listen to business concerns" amid a full retreat on tariffs, with trade negotiations underway with the UK and potential tariff reductions for China announced. Markets have reacted positively, but can the damage to global trade, businesses, and consumers be reversed?

Matt Henderson, Portfolio Manager, details the move away from US equity exposure due to ongoing tariff uncertainty and trade talks. Gold has now reached another all-time-high, but why are investors favouring it over bonds?

Paul Durrans, Investment Director, and Joe Forward, Investment Analyst break down the major events from this week, from the latest UK inflation figures, the market reaction to ongoing tariff developments, and the latest corporate results from semiconductor chip companies.

Sebastian Mackay, Investment Director, explores how current US policy is affecting investor sentiment and opportunities for equities and could potentially jeopardise the US dollar’s status as the world’s reserve currency.

George Bell, Portfolio Manager, looks at the recent UK inflation print which shows Headline CPI at 2.6%, down from 2.8% in March. This moderation coupled with the cooling labour market has set market expectations for three interest rate cuts from the Bank of England in 2025 of 0.75%

Kevin Kidney, Head of Investments, looks at the mixed messages coming from UK employment data and the strength of wage growth in both the private and public sector. This presents a headwind to the Bank of England as the jobs data doesn’t support their desire to cut interest rates.

Matt Henderson, Portfolio Manager, looks to the week ahead, which has updates on UK and European inflation data and interest rate decisions from the European Central Bank.

Kevin Kidney, Head of Investments, is joined by Paul Durrans, Investment Director, and George Bell, Portfolio Manager to discuss the volatility in markets after the ‘liberation day’ tariff announcements and the subsequent rollback on the decision with the exclusion of China. The team also discuss how they are taking action to tackle the current market volatility.

Paul Durrans, Investment Director, reflects on the surprise announcement of an almost blanket 90-day delay on US tariffs, with the exception of China. US equities have had a strong positive response to the news, with the S&P 500 up almost 10% in one day.

Matt Henderson, Portfolio Manager, covers the market reaction to President Trump raising tariffs on Chinese imports to a total of 104%. With further commentary on the inflationary backdrop in the UK and Europe, could oil pricing be the catalyst for interest rate cuts?

Kevin Kidney, Head of Investments, looks at the continuing market volatility caused by US tariffs and how the Investment Management team are adjusting the True Potential Portfolio’s with a focus on reducing US equity exposure and increasing our fixed income allocation.

Sebastian Mackay, Investment Director, looks back at last week, which saw a significant drop in the stock market, following the US liberation day tariff policy coming into effect. US economic aggression appears to be bringing the wider world together, with trade talks between Europe and China already underway, but investors are concerned that the current trajectory of US policy could send them and...

Paul Durrans, Investment Director, and Matt Henderson, Portfolio Manager, look at the recent tariff announcements from President Trump, the global trade implications and the market reaction to the unexpected magnitude of the policy. They also look into the impacts of the policies on the consumer and the importance of diversification to investors during times of increased volatility.

Sebastian Mackay, Investment Director, looks at the market effects of yesterday’s ‘liberation day’ tariffs, Trump’s aims of weakening the dollar to forge trade deals and revitalise US manufacturing, and the potential for the US losing its reserve currency status