Insights

Strategy Blog

Wealth Management: Strategy blog: Another debt ratio observation

CBO long-term US debt projections have improved since 2021 due to small assumption changes, highlighting forecast sensitivity, while rising bond yields reflect inflation and interest rate dynamics, not fiscal concerns.

Anthony Abrahamian

03/06/2026

Market Perspective

Wealth Management: Market Perspective - Inflation, stock valuations, AI FAQs

Global markets remain resilient despite geopolitical tension and rising energy prices, supported by strong earnings and AI-driven optimism. However, elevated valuations, uneven sector dynamics and evolving inflation risks reinforce the importance of disciplined, long-term positioning within an uncertain macroeconomic environment.

Kevin Gardiner, Victor Balfour, Anthony Abrahamian

22/05/2026

Insights

Wealth Management: Hold and review: An approach for investments and tax

A long-term, disciplined approach to investing prioritises quality companies and wealth preservation over short-term trends. Amid significant changes to tax rules—particularly around inheritance and estates—careful planning, regular review, and close collaboration with advisers remain essential to achieving sustainable outcomes.

David Kilshaw

19/05/2026

Strategy Blog

Wealth Management: Strategy blog: Supply chain update

Global supply chains face rising stress but remain resilient. Hormuz disruption halted key energy flows, prompting rerouting. Delivery times have lengthened slightly, shipping rates remain contained, and trade volumes stay healthy. Overall pressure is rising, though far below pandemic-era supply chain disruption.

Anthony Abrahamian

11/05/2026

Strategy Blog

Wealth Management: Strategy blog: Why have stocks gone up?

Despite unresolved conflict and high human costs, markets rebound as investors look beyond short-term risks. Economic data and earnings remain resilient, oil shocks appear contained, and longer-term outlooks seem largely unchanged—for now, for equities overall.

Kevin Gardiner

24/04/2026

Strategy Blog

Wealth Management: Strategy blog: UK stocks outperforming?

Despite political uncertainty and a sluggish economy, UK equities have outperformed. This reflects index composition: globally focused energy, financials and materials firms benefiting from sector trends, while limited technology exposure explains past underperformance and clouds the durability of recent gains.

Anthony Abrahamian

23/04/2026

Strategy Blog

Wealth Management: Strategy blog: Stagflation redux?

Despite war, blockades and oil near $100, global equities hit highs. Stagflation fears echo 1973 and 2022, but today’s shocks look smaller and shorter-lived. With earnings resilient and rates nearer neutral, markets may keep looking past geopolitical risks for now.

Victor Balfour

17/04/2026

Quarterly Letter

Wealth Management: Quarterly Letter: The rhythm of markets

Markets move in cycles driven by psychology; predicting turns is futile. Disciplined long‑term investing in quality businesses, valuing fundamentals over hype, helps preserve and grow wealth through booms and busts.

James Morrell

02/04/2026

Strategy Blog

Wealth Management: Strategy blog: Oil and rates

Against the backdrop of Middle East conflict, energy disruptions are lifting inflation expectations, pressuring stocks and bonds. Markets now price fewer rate cuts, though growth risks may temper inflation. From here, equities look more vulnerable than bonds overall for now.

Kevin Gardiner

19/03/2026

Strategy Blog

Wealth Management: Strategy blog: Energy price shock?

Energy price spikes from Middle East conflict risk pushing US and European inflation above recent 2–4% ranges, with oil and gas disruptions raising headline CPI and broader costs amid uncertainty.

Anthony Abrahamian

11/03/2026

Strategy Blog

Wealth Management: Strategy blog: The ‘K shaped’ stock market

A sharp divide has emerged beneath headline markets, with AI expectations driving a widening gap between winners and laggards. While infrastructure beneficiaries lead, software and other knowledge-based sectors face mounting pressure as disruption fears outpace observable change.

Victor Balfour

06/03/2026

Market Perspective

Wealth Management: Market Perspective - Gold, the dollar and another new world

Amid rapid shifts driven by AI, changing market leaders and stretched tech valuations, we break down the forces steering today’s investment landscape. From gold’s standout run to a weakening dollar and renewed geopolitical debate, we show why staying disciplined and anchored in fundamentals is key to navigating 2026.

Kevin Gardiner, Victor Balfour, Anthony Abrahamian

27/02/2026

Strategy Blog

Wealth Management: Strategy blog: Demography and debt revisited

Aging and debt fears are overstated. Economies can grow through productivity, sensible policies, and innovation. Debt shifts resources but isn’t catastrophic. Crises stem from liquidity, not insolvency, and gold‑standard nostalgia is misplaced.

Kevin Gardiner

12/02/2026

Strategy Blog

Wealth Management: Strategy blog: Buoyant earnings expectations

Equity markets remain resilient despite geopolitical turmoil, supported by robust earnings and high US margins. Growth is broadening across sectors and regions, though sustaining elevated US profitability may prove challenging as conditions evolve further ahead.

Victor Balfour

03/02/2026

Strategy Blog

Wealth Management: Strategy blog: The next Fed Chair

Trump has nominated Kevin Warsh as the next Fed Chair. Markets were steady, reflecting confidence in his credibility, though he may pursue lower rates and a smaller balance sheet despite ongoing political pressure.

Anthony Abrahamian

02/02/2026

Strategy Blog

Wealth Management: Strategy blog: Fed independence: Q&A

Despite President Trump’s pressure and a criminal probe into Jerome Powell, the Fed’s independence largely held. Market reaction stayed muted, legal limits constrain Trump’s influence, and any politicised rate cuts risk credibility, inflation, and broader financial instability for global markets ahead.

Anthony Abrahamian

16/01/2026

Strategy Blog

Wealth Management: Strategy blog: The Three Body Problem

Since WWII, geopolitics split into East and West, but that model may fade. U.S. assertiveness contrasts Europe’s passivity, hinting at three major players. Outcomes remain unpredictable, investors should stay patient amid inherent market complexity and uncertainty.

Kevin Gardiner

08/01/2026

Quarterly Letter

Wealth Management: Quarterly Letter: Succession matters

Succession, when planned early and guided by strong values, ensures continuity and growth. At Rothschild & Co, we emphasize stewardship, transparency, and preparation to help families and businesses navigate transitions confidently.

Helen Watson

05/01/2026

Strategy Blog

Wealth Management: Strategy blog: 2025: a year of resilience

Despite protectionism, conflict, and fiscal concerns, 2025 delivered resilient growth, falling rates, and easing geopolitical risks. Stocks soared, bonds rebounded, gold surged, and fundamentals strengthened, driving broad market gains despite dollar weakness and fragmented AI-driven momentum.

Victor Balfour, Anthony Abrahamian

05/01/2026

Strategy Blog

Wealth Management: Lessons for 2026?

2025 delivered modest growth, easing inflation, and falling rates amid geopolitical tension, fragile ceasefires, and populist pressures. AI hype dominated markets, gold surged, and resilience prevailed despite tariffs, political drama, and valuation risks, setting cautious optimism for 2026.

Kevin Gardiner

18/12/2025

Strategy Blog

Wealth Management: Strategy blog: Trump tariff observations

US tariffs hit post-war highs but haven’t derailed growth. Global trade rose 4%, supply chains rerouted, and US demand stayed resilient. Inflation impact muted as tariff revenues recycle into tax cuts, softening consumer costs.

Anthony Abrahamian

15/12/2025

Strategy Blog

Wealth Management: Strategy blog: Five Macro Myths

Five Macro Myths: AI drives U.S. growth but with limits; layoffs fears overstated; Trump’s influence wanes; UK remains stable, not emerging; and year-end market optimism persists despite uncertainty.

Victor Balfour

08/12/2025

Insights

Wealth Management: A budget for investors?

The 2025 Budget increases taxes on dividends, savings, and rental income while leaving capital gains unchanged. Despite headline noise, changes are moderate; investors should focus on stability and maintain a long-term strategy.

David Kilshaw

28/11/2025

Strategy Blog

Wealth Management: Strategy blog: Europe’s fiscal impetus

European growth optimism has faded as AI leads globally, yet major fiscal initiatives, Germany’s €500bn plan plus EU defence, green, and Ukraine spending, could boost growth from 2026, despite consensus forecasts remaining muted and likely underestimating potential.

Anthony Abrahamian

27/11/2025

Strategy Blog

Wealth Management: Strategy blog: UK budget - is that it?

The UK budget offers offsetting tax hikes and spending increases, leaving the economy largely unchanged. Growth forecasts dip, inflation target slips to 2027, and later fiscal tightening remains modest.

Kevin Gardiner

26/11/2025

Market Perspective

Wealth Management: Market Perspective - FAQ II: Business cycle, bubbles and budgets

In this Market Perspective, we examine resilient markets navigating geopolitical strains, sticky inflation, ambitious AI valuations, rising tariffs, and shifting debt dynamics, and why disciplined positioning and strategic agility remain essential for long-term growth.

Kevin Gardiner, Victor Balfour, Anthony Abrahamian

20/11/2025

Strategy Blog

Wealth Management: Strategy blog: What goes up...?

Global equities surged since April, driven by AI stocks, sparking Dotcom-era comparisons. Unlike the 2000 bubble, valuations and leverage are milder. Yet, AI’s payoff may lag, leaving lofty valuations exposed to near-term revenue risks.

Victor Balfour

07/11/2025

Insights

Wealth Management: Helping US clients preserve and grow their wealth

Rothschild & Co Wealth Management UK provides globally diversified, preservation-focused wealth management for US clients. Our bottom-up investment approach prioritises prudent growth and long-term security.

Ben Harrison, Charlotte Mettyear

07/11/2025

Strategy Blog

Wealth Management: Strategy blog: Products matter

European growth needs more than demand-side fixes, it requires focus on output and products. Innovation, targeted government support, and sustainable production are key to driving inclusive, lasting economic development.

Kevin Gardiner

27/10/2025

Strategy Blog

Wealth Management: Strategy blog: Japan: change of leadership

Sanae Takaichi, a close ally of Shinzo Abe, may become Japan’s first female PM amid LDP decline, economic uncertainty, and rising opposition momentum. Her leadership could revive Abenomics-style reforms, but challenges remain.

Anthony Abrahamian

16/10/2025

Insights

Wealth Management: How to invest as a former non-dom

The 2025 Finance Act abolished the non-dom regime, increasing tax exposure. Former non-doms must reassess investment strategies, consider wrappers, review offshore accounts, and explore the FIG regime for potential tax relief and planning opportunities.

David Kilshaw

14/10/2025

Insights

Wealth Management: The Temporary Repatriation Facility – A new opportunity for former non-doms

The TRF allows former non-doms to repatriate offshore income and gains at reduced tax rates, enabling UK investment. Rothschild & Co supports account setup, investment planning, and wrapper selection alongside expert tax advisers.

David Kilshaw

14/10/2025

Quarterly Letter

Wealth Management: Quarterly Letter: The importance of culture

Companies with healthy cultures outperform peers, adapt to change, and deliver exceptional service. Preserving culture through growth ensures stability and continuity, benefiting both clients and the business itself. This Quarterly Letter explores how cultural strengths underpin our approach at Rothschild & Co and guide our investment decisions.

Helen Watson

02/10/2025

Strategy Blog

Wealth Management: Strategy blog: US government shutdown

The US government entered a partial shutdown due to healthcare funding disputes. Economic impact depends on duration; markets remain stable, but worker furloughs and data delays pose risks.

Kevin Gardiner, Anthony Abrahamian

01/10/2025

Insights

Wealth Management: Building wealth one pot at a time

Our wealth framework brings clarity and structure to personal finances by dividing wealth into distinct “pots,”. This approach helps individuals visualise their wealth in a more meaningful way, moving beyond abstract numbers to focus on real-life goals, such as lifestyle needs, long-term security, growth opportunities, and business interests.

Joanna Livesey, Tracy Collins

25/09/2025

Insights

Wealth Management: Powering intelligence, responsibly

Our Electrification Sphere brings clarity to the energy transition by convening industry leaders to address the challenges of powering AI and digital infrastructure sustainably. Through expert dialogue, the report explores how innovative grid solutions, renewable integration, and strategic investment can shape a resilient, decarbonised future for data-driven industries.

Laura Negus

24/09/2025