Asset Owner

On Sunday, Brussels bowed to demands from across the Atlantic. Some call it a strategic blunder. Others say it’s a clever bluff.

European stock exchanges are edging closer to 24-hour equity trading, but cautiously and unevenly.

Treasury Secretary Bessent suggests reviewing the Fed, an idea that’s ruffling feathers in central banking’s insular, self-congratulatory world.

While many economists were once again forecasting a recession and plenty of so-called market experts were calling an end to the rally, equity markets are celebrating summer with new record highs. I’m curious to see how they’ll explain their latest miss.

The second quarter of 2025 provided ample opportunity for tactical trades, as markets whipsawed in every direction. Inflation fears broke out following Liberation-Day tariff announcements from the US, which led to a rapid spike in bond spreads. Spreads then normalized as a 90-day suspension on tariffs kicked in. Even so, global high-yield bond yields stood at 6.9 percent at the end of June, well above the 6.4 percent average over the past five years.

It was June 2008 when I flew to New York to meet Paul Volcker for the first time. That trip is memorable for two reasons: first and foremost, of course, for the opportunity to sit down and talk with Volcker. But also because that week, EUR/USD reached its all-time high, just shy of 1.60.

The ECB may be standing still in terms of monetary policy but the ground beneath is shifting. The strong euro complicates the picture.

With just one week to go until the U.S. deadline of August 1, European policymakers are finalising retaliation measures that could place transatlantic relations under severe strain.

Private banks race for growth as ‘hunters’ return to favour. Who wins the client, and who keeps them loyal?

This week’s overview of people transfers and appointments includes updates from Apex, EY, DWS Group, Aberdeen, Coutts, GAM and HSBC.