Watch the video for the full market update, which covers:
- Trump’s ‘Big Beautiful Bill’ created a strongly reflationary policy environment in the US. The current account deficit is likely to continue to rise as a result of the bill.
- During the year to date, the IMS portfolio underweight allocation to US equities has been a tailwind, valuations are still quite high.
- In currency markets, the dollar has been sold off substantially in comparison to sterling and other major currencies.
- Geopolitical risk has affected bonds: investors require a higher return to lend for longer to governments.
The value of securities and the income from them can fall as well as rise. Past performance should not be seen as an indicator of future returns. All views expressed are those of the author and should not be considered a recommendation or solicitation to buy or sell any products or securities.
