Knowledge and Insight

Stock markets have reacted badly to the worse than expected news on US trade policy. We favour a more conservative asset allocation in response – but it’s possible to be too gloomy.

Greenbank and Rathbones are delighted to partner with 5x15 for The Earth Convention 2025, a three-part series offering insights into the urgent issues facing our changing world. The second session ‘Oceans and Rivers’ will explore the relationship between human civilisation and the Earth’s oceans and rivers.

In the opening months of President Trump’s second term, attention-grabbing trade policy and a dramatic pivot on Ukraine have ratcheted up the level of uncertainty investors are facing. Our lead article considers the ‘collateral improvement’ this has brought to Europe’s outlook for growth.

Chancellor Rachel Reeves delivered a minimal fiscal update on 26th March, honouring her pledge of one key fiscal event per year. Despite its brevity, the announcement included significant financial and economic updates impacting the charity sector.

The US government plans to slap tariffs on virtually all imports to the US as part of ‘Liberation Day’. The details are yet to be revealed, but the most immediate effect is already apparent: higher prices.

When it comes to managing wealth, there is a big difference between the concepts of “risk” and “uncertainty”. Risk is deemed to be quantifiable in some way, allowing managers to construct portfolios with the right balance between assets and the right mix within those asset classes. At least then we might have some idea of the potential gains and losses to which clients are exposed.

Chancellor Rachel Reeves today prioritised fiscal discipline, leaving intact the near-term outlook for positive, though weak, growth.

Brits are paying ever more in taxes, but that doesn’t mean you have to. With a bit of care and maybe some advice, you could avoid paying thousands of pounds more than you would otherwise.

The government is poised to cut public spending. Will its Spring Forecast also tinker with taxes and borrowing? If so, UK government bonds could bear the brunt.

After a good start to the year, an onslaught of policy announcements from the White House has since sent US equities into retreat. But falls of this magnitude are a normal part of investing, and the importance of politicians shouldn’t be overrated.

Watch Ed's video update below.

American stocks have taken a jolt downward, rattled by an escalating trade war and an unpredictable President. It’s not a time to panic. 

Will economic reality drag the UK government into changing its Budget only six months after delivering it? Here’s a quick summary of what’s looming over the Spring Forecast on 26 March.