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Pride before the fall
Last Updated: September 30, 2025
When Donald Trump won the presidency in November 2016, we believed he would struggle to make headway on virtually all of his flagship policies.
Happiness in short supply at the White House
Last Updated: September 30, 2025
Last week the UN World Happiness Report 2018 revealed that Finland is the world’s happiest nation. In contrast, the US slipped five places to 18th in the global ‘happiness’ rankings. The S&P500 fell 1.6% over the week in sympathy, amid fears of rising trade friction and fallout from the political merry-go-round at the White House. UK shares fell too.
Has the Bull still got a spring in its step?
Last Updated: September 30, 2025
Last Friday was a momentous day. Not only did it feel like Spring may finally be in the air, but it also marked the nine-year anniversary of the start of the current bull market. Yes, the previous bear market officially ended on 9 March 2009 following a 17-month bloodbath that saw US markets fall by 57% – the second-steepest peak-to-trough decline since 1932.
One direction?
Last Updated: September 30, 2025
In Iceland, there’s an old saying: if you don't like the weather, wait 15 minutes. Since the start of this year, the markets have proven just as changeable as the fickle Icelandic climate. Earlier this month, the VIX index of volatility – Wall Street’s “fear gauge” – briefly hit the heady heights of 50, marking the biggest one-day rise in the history of the index and its highest level since August 2015.
The big squeeze
Last Updated: September 30, 2025
Volatility is back. After more than a year of record calm in stock markets, the VIX index of S&P 500 volatility briefly hit 50 as it exploded upwards last week.
Chinese whispers
Last Updated: September 30, 2025
The tone of 2018 will be set by bond markets, we believe. How they react to the monetary tightening (or not) of the world’s largest central banks will have important consequences for share markets and investor confidence.
Looking ahead as central banks look up
Last Updated: September 30, 2025
The relationship between economic growth, inflation expectations and government bond yields is likely to be a dominant investment theme throughout 2018. Already this year financial markets have been spooked by the prospect of higher inflation and higher bond yields. The important question now is how far and how fast will yields rise from here?
Financial planning: estate of the nation
Last Updated: September 30, 2025
Passing on wealth has never cost the UK so much. Inheritance tax (IHT) receipts are surging and reached a record £4.9 billion last year. With property prices rising and IHT allowances frozen until 2021, that trend is likely to continue.
Investment Insights Q2 2018
Last Updated: September 30, 2025
The threat of higher inflation and rising interest rates spooked global stock markets in February and pushed up government bond yields. We expect the trend of rising yields to persist and be a dominant investment theme over the coming year, with implications for equities.
Goodbye to all that
Last Updated: September 30, 2025
After almost 18 months without a setback, investors forgot what volatility felt like. That complacency has now been shattered, but sound underlying business conditions remain intact. That’s no bad thing.
Exploring the Rathbones Folio Prize 2018 shortlist
Last Updated: September 30, 2025
Original, diverse and international – this year’s shortlist encapsulates what the Rathbones Folio Prize is all about.
Regional renaissance
Last Updated: September 30, 2025
In a post-Brexit world, Britain may have to become less reliant on its financial services sector and the South East.