We have come a long way, and the good news is that government debt and deficits have finally made front-page news. At the very least, that means the problem has now been flagged.| ByteTree
Long bond yields continue to rise around the world, but in this case, being at the front of the pack is not a good thing. The gilt yield has now reached the point where it is showing better value than UK equities.| ByteTree
Last weekend, I was invited onto Jonathan Davis' Money Makers podcast.| ByteTree
The 30-year gilt yield is up again and looks poised to move higher. This should be the safe asset for investors seeking certainty. But as yields rise, prices fall, and it is hard to know where this ends.| ByteTree
It would have been hard to miss my recent excitement on the all-time high for the Japanese stockmarket. 35-years is a long time to wait, and for some reason, there has been minimal press coverage of this historical event. I’ll go through the key charts. The first is the TOPIX Index in yen since 1970.| ByteTree
Last Thursday, the Bank of England cut interest rates by 0.25% to 4%. The ECB have already got them down to 2.2%, with the euro still performing well. In the US, the Fed has held them at 4.5% but is expected to cut to 4% in the autumn.| ByteTree
In this issue, we are buying quality stocks in the portfolios, and selling risk, as high vol stocks outperform. This worries us, as newer growth stocks beating established profitable companies suggests speculative excess.| ByteTree
In this Q2 2025 update, we review the performance of our model portfolios in The Multi-Asset Investor and our special situations service, Venture.| ByteTree
The weekend saw military action in the Middle East on a grand scale, and by Monday financial markets had shrugged it off. Gold eased back, the US dollar rally fizzled out, and as we are becoming used to, the bond market barely reacted.| ByteTree