Month: September 2026
Market Update: Waiting for Goldilocks
Government bond yields keep rising. The US 10-year yield shot up to 5.2%, its highest level in nearly 20 years. This pushed up yields for all other bonds. That was not a problem for stock markets – until it was. Equities continued the theme of shrugging off bond drama in the early part of last week, but most indices dropped in the last few days. The one exception, perhaps unsurprisingly, was the mega-cap US tech stocks. How much longer can the AI trade go it alone?
Market Update: The real cost of oil…
Last week was heavy on narrative but, for the most part, light on stock market movement. President Trump bristled at Canada’s flirtation with Europe, tech leaders made a plea for slower AI development and attacks on Middle Eastern oil infrastructure continued. These stories had only minor impacts, not moving markets too much in either direction.
Are you unknowingly paying an effective 60% tax rate?
With wages rising and frozen tax thresholds pushing more people into higher tax bands, many UK professionals are finding that earning more does not always mean taking home more. In fact, individuals earning £110,000 a year can face surprisingly high tax bills and may even lose valuable tax allowances.
Market Update: Bond yields’ multi-facetted messaging
We ended last week with global stocks once again a little higher than they were the week before, but bond prices a step lower. Global government bond yields – the inverse of prices – have now been steadily rising for over two months. Higher yields make investors nervous, but those nerves have been largely absent from equity markets. When you throw oil price risks and likely interest rate rises into this mix, the relative calm in stock markets is remarkable.
Market Update: Wanting isn’t getting…
Last week saw little movement in the main asset classes. Generally, equity markets have moved a bit higher, longer bond prices and yields are unchanged and the US dollar has recouped much of the losses from the week before.