Nathan McKerlie and Charlie Parker unpack Rachel Reeves’ autumn budget, the unprecedented OBR leak, and the political and market implications.

Rachel Reeves has presented the highly anticipated Budget, although an unexpected early release of the Office for Budget Responsibility’s (OBR) Economic and Fiscal Outlook briefly diverted attention. Despite this unusual development, we have been monitoring events closely and are pleased to share our initial thoughts. 

For asset allocators, 2025 has been defined by volatility. The year began with a sanguine macroeconomic backdrop but was quickly complicated by government sector layoffs and tariff negotiations. Amidst this friction, earnings have continued to provide a robust anchor for market strength and NVIDIA’s third-quarter results confirmed that an important driver of earnings, the build-out of artificial intelligence infrastructure, remains intact.  

Stocks reached new heights in October, boosted by a breakthrough US-China trade agreement and exceptional corporate earnings. President Trump and President Xi Jinping reached a comprehensive agreement in Busan, South Korea, that reduced tariffs and suspended export controls.

We take a deep dive into AI and markets, considering whether recent equity moves linked to AI could represent a speculative bubble or a sustainable shift.

Gold futures surged to a record $4,000 per troy ounce on October 7th, marking the first time the precious metal has breached this milestone.

Nathan McKerlie speaks with Dan Haylett, Director of TFP Financial Planning Ltd. They discuss Dan's journey into financial planning, why he champions fixed fees, and how to reframe retirement as a life transition focused on meaning, not just money.

Sarah Kennedy hosts Richard Bradley of Platforum to discuss trends affecting financial advisers.