While the US economy and markets seemingly look in a pretty good place right now, the team discuss one of the potential flies in the ointment: US commercial real estate. Many worries have been floated about large cuts to office property values – are they valid? And if so what second order impacts could there be? The focus then turns eastward to the rise of Japan’s stock market and increased investor interest. This leads the team to discuss whether years of corporate reform could mean a new dawn for the nation or just another false one. Finally, the Magnificent Seven is tackled head on as the team discuss Nvidia, the darling of the market, to highlight what the company does, how it has changed, and why it has earned plaudits and a stratospheric share price rise.

With plenty of debate about the state of the US economy, whether the inflation dragon is slain or not, if the landing will be a soft one, and when the Fed might start cutting rates, the team discuss whether the US economic porridge is too hot, too cold or just right.

In a wave of central bank meetings this week, one of them is truly different. While all other developed world policymakers are pondering rate cuts, only Japan is considering rate hikes.

Problems with UK labour surveys are making it hard to know the true rate of unemployment. Meanwhile, the Chancellor releases a tax-cutting Budget that leaves the next government with tough choices.

The Chancellor hopes to narrow Labour’s yawning lead in opinion polls with a tax-cutting Budget. Giveaways may be stymied by a poor economy and higher costs of public services.

Obstructive planning laws are curtailing the supply of homes in the UK, the regulator says. Meanwhile, the quality of building is slipping, suggesting we’re wrapped up in the wrong red tape.

The UK slumps into recession even as people’s spirits and retail sales rise. Meanwhile, trouble may be brewing in American inflation.

The Magnificent Seven was the buzz phrase of 2023 as seven stocks drove so much of the return from US equity markets. America isn't the only place with a concentration issue though: it’s the same picture in Europe and the UK. The team look forward and discuss what risks and opportunities may lie ahead as a result of this phenomenon. They then turn to the defence sector and why there might be some meaningful changes afoot to drive more government spending in this area. Finally, Canadian e-commerce company Shopify is on the agenda as the team outline the company's broad appeal, along with the ups and downs of their journey owning this name.

The US S&P 500 stock market index broke through 5,000 for the first time, hitting a record high last week as investors shrugged off worries that interest rates may not fall as fast as many had hoped.

US jobs strength pushes back interest rate cut forecasts yet further. Meanwhile, higher rates and changing business needs keeps squeezing commercial property.

No change to monetary policy is expected this week, but investors will be eager for any clue about the Bank of England’s thoughts on inflation and interest rate cuts.

The latest edition of In Conversation has arrived. Our managers explain how they are navigating current challenges and finding opportunities, they also outline fund performance, positioning and what they believe lies ahead.