Trading update : 18 December 2025
Market sentiment for 2026 is coalescing around a “pivot to value” as global inflation pressures finally peak and central banks signal a steady, albeit cautious, path toward interest rate cuts. While retail giants like Costco thrive on price-sensitive consumers and the EU offers a lifeline to traditional automakers by softening EV mandates, the landscape remains fraught with idiosyncratic risks. For South African investors, the narrative is a split-screen: structural reforms and port privatization offer long-term hope for EM outperformance, yet individual holdings pose risks and opportunities. Navigating the year ahead will require balancing the optimism of a “neutral” rate environment against the reality of strained corporate balance sheets.
Trading update : 5 December 2025
Strategic AI interests are shaping the geopolitical and business landscapes, driving focused investments and literal power plays. A growing, high-spending crypto-wealthy consumer segment is proving a tailwind for luxury retail, while global investors are finding value in UK equities while anticipating broader global equity growth outside the US, with a China a major beneficiary of sustained inflows. Locally, business sentiment is rebounding, and the retail sector is flashing positive signals.
Trading update : 1 December 2025
As fears of an AI bubble eased, US stocks staged a rally to kick off Thanksgiving week, led by tech stocks, and optimism over a December interest rate cut. However, not everything is looking rosy – Big Tech is raising the risk stakes, with the five major AI spenders accumulating a record $108 billion in debt in 2025 to fund their ambitions – more than triple the historical average. Consumer trends are also worrying ahead of the biggest US shopping season, with a slump in US consumer sentiment, and a “California sober” trend that could hurt alcohol beverage stocks. Closer to home, local equities saw a sharp slump, and BHP finally ended its (Anglo) American dream.
Trading update : 21 November 2025
With fears about an AI bubble spurring a sell-off, strong figures from the sector juggernaut were needed to quell nerves, and Nvidia delivered again! As local wealth managers sent a clear warning to retail investors that cash is not the place to hide, emerging markets are gaining favour with another wave of ETF inflows. On the corporate front, dealmaking is heating up with AB InBev’s potential move into boozy punch, while a notable property play on the JSE is catching the attention of value hunters.
Trading update : 13 November 2025
Risk appetite roared back this week and the market gained momentum as Washington made a breakthrough in ending the record shutdown. Wall Street shook off its worries, which saw stocks and Bitcoin climbing in tandem. The rally was broad-based, lifting everything from beaten-down tech stocks to emerging market assets, with the rand catching a strong […]
Trading update : 11 November 2025
The AI arms race is driving billions in deals for chip access, with the US and China going head to head for global dominance! While the spending taps are open and valuations keep notching up fresh records, a top Goldman Sachs partner is warning that a major stock correction is overdue. The fact that Warren Buffett’s cash pile just hit a mind-boggling record might suggest some caution is needed based on prevailing valuations.
Trading update : 30 October 2025
All the talk is about tech. Despite growing concerns of an AI bubble, the sector is buzzing with activity, with M&As, industry collabs, IPOs and strong earnings. Tech stocks continue to push the S&P500 and Nasdaq to fresh record highs, with suggestions that the year-end rally could sustain the run. Tech is also a dominant theme in the local financial sector, with major announcements from big players as they buy into fintech and platform plays.
Trading update : 23 October 2025
All factors point to a sustained bull run, with robust global growth, subdued inflation, pending interest rate cuts, and a strong earnings season in the US suggesting the dynamics at play will support further gains, despite renewed US-China trade tensions.
Trading update : 17 October 2025
With earnings season here amid global uncertainty and “frothy markets”, investors are taking a more cautious tone toward key sectors and dip buying, with safe havens like gold remaining a favoured option, backed with strong fundamentals. With potential speed bumps ahead in global markets, particularly the US and UK, investors are looking locally for solid investments, with strong options in the banking and retail sectors.
Trading update : 13 October 2025
US market optimism is hitting extremes, even as a $16 trillion surge in the S&P 500 sparks “bubble trouble” fears, particularly around AI infrastructure debt and chip demand. Meanwhile, cautious growth forecasts in Europe, and a healthy emerging market outlook add layers of complexity, and opportunities to the global investment thesis.