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Asset Allocation in Focus
26 November 2025
The performance of any asset class is driven by a complex set of forces
France: steps towards a second eurozone sovereign crisis
25 November 2025
France faces a precarious political and fiscal outlook, with implications for investors to consider.
Business investment, profits and the growth cycle
18 November 2025
We explore the evolving role of business investment – particularly the recent surge in AI-related capital expenditure – as a key driver of global growth.
Archive
Rare earths versus semiconductors – what are they playing at?
10 November 2025
President Trump is playing poker; President Xi is playing weiqi.
Navigating the US data shutdown
21 October 2025
The US federal government shutdown has delayed several key economic data releases, forcing markets to pay closer attention to alternative data sources and complicating the Fed’s decision-making process.
Le Déluge: The French pensions problem
17 October 2025
We explore the structural challenges facing the French government.
Le Déluge: The centre cannot hold
10 October 2025
Another month, another failed French government. President Macron’s centrist experiment appears to be reaching an end.
US exceptionalism: at a crossroads - video
26 September 2025
US exceptionalism has underpinned a long period of asset outperformance, but we stand at a cross roads, and this long standing trend may be drawing to a close.