Daily Snapshot

Lots of headlines this year about an exodus of wealth leaving the UK, with some saying that we’re set to lose more millionaires than any other country in 2025. Tricky to know if this is fact or fact or fiction but what did catch my eye was Montenegro, which was seen an increase of +124% in millionaires over the last decade. The next point of call was obviously to check the price of a beverage over there and at €1.50 / €4 for a pint, I’m sold and keen to figure out the story behind the “new Rivi…

It seems that every corner of the map is basking in intense sunshine right now, except (as ever), for one reliably damp exception… the west of Ireland. While most of Europe swelters under a relentless heatwave, I’ve just returned from a week in the motherland which saw uninterrupted rain for the entire duration and was a completely different story to the 30-degree heat which is currently baking London. Good to get back in the swing of things today of course but sadly the summer lull was still a…

Market digesting all news positively is a red flag to me, but let’s go through it.. The dollar dropped 0.5% to its lowest level since April 2022 (look at that GBP above 1.37) while treasury yields eased across the curve as the market is anticipating faster interest-rate cuts (63bps priced in for this year, up from 51 last week), following a wsj report suggesting Trump may accelerate his nomination for the next Federal Reserve chief to September. Then US consumer spending grew in the first quar…

European equity markets experienced a rare quiet day with no major developments since the ceasefire’s been announced and the market taking a breather at these all-time highs, especially as Oil prices keep calm. (For those keeping track SPX resistance is at 6147 the Feb intraday high and NDX above 22222 today, the all-time high). NATO Summit was the news today as leaders backed a plan to increase defense spending to 5% of GDP – 3.5% core defense, 1.5% related investments in infrastructure and cy…

I was a little nervous when the invite to tonight’s event I’m attending says, ‘dress code – Summer chic’. As an almost 49-year-old ‘chic’ is not something I’ve associated myself with since, well, ever really. So, I did a little googling, and I’ll paste a few of the suggestions that popped up at the bottom of this email. Wish me luck as it appears I have much work to do!

With wars, tariffs, and geopolitical chaos dominating headlines these days, it does feel sometimes like there’s no end to the bad news.. and according to Reuters latest Digital News Report, over 40% of people surveyed in the UK and US now say they actively avoid the news, with this up from 29% when asked in 2017. Somewhat understandable I guess but also slightly concerning given that social media isn’t exactly known for being the most reliable source of information. On the bright side though yo…

Quite a dramatic change in sentiment since we left last night as events from the G7 Summit in Canada unfolded like something out of a movie, and one which had only one main character – the Donald. The good: a US-UK trade deal was signed, zero tariffs for UK aerospace and tariffs on UK autos will drop from 25% to 10%, with the UK now “very well protected from future tariffs”. The bad: He did drop these papers straight on the ground and mistakenly referred to the UK as the EU. The ugly: He storm…

Well, it’s Royal Ascot tomorrow and that typically signals the Summer Season getting into full swing and today we eased into what could still be quite a lively week with plenty to focus on. One of the main things being the change of name here as we move from Redburn Atlantic to Rothschild & Co Redburn. All part of the ongoing integration to the broader group of course and – before you ask – yes the LEI and entity stays the same and no there’s nothing you need to do from your side! Back to busin…

Well, it’s felt like a slow week.. not quite as slow as this not-so-hot pursuit in South Carolina, where police ‘chased’ a tractor down a highway for over an hour at a snail’s pace. Still, it’s been a sluggish few days and I, for one, am very glad tomorrow is Friday! Today brought more of the same: a dull session with a defensive tape, and European stocks remaining lower for the session. Tariff noise continued, tainting sentiment once again and the latest here is that Trump plans to send letter…

“If you want something done right, do it yourself” did spring to mind when reading that some poor couple in London were forced to ‘steal back’ their own car (armed with just an Apple AirTag), after police told them they were too busy to investigate the issue. An obscure headline – definitely concerning, and you can probably tell that the fact I came across it means that it was another slow news day behind the screens. Spotlight was firmly on the second day of US-China trade talks, which turned…