Investment Updates | Asset and Wealth Management Specialists in Cumbria

Keep on top of the latest markets and investment information with our Investment Update.

Published monthly, each Investment Update newswire provides a concise, easy-to-read summary of relevant news including:

Global markets round up, including UK, US, Europe, China and others
Sector specific updates
Key developments that may affect market performances
Investment market changes across global indices and sectors

If you’re concerned about your portfolio, pension or savings accounts please make an appointment to speak to your dedicated independent financial adviser.

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	December 2025 Fears of an AI bubble grew as investors scrutinised plans for multi-billion dollar investments and borrowings. The VIX, the so-called Wall Street fear gauge, briefly hit its highest level since Liberation Day. Major equity markets were largely at best flat over the month. The Japanese stock market backtracked on some of October’s rally following hesitation about the financial policies of the country’s new president. The Korean stock market also reversed direction from its strong position in October. Government bond yields were little changed in the UK and Eurozone, but fell in the US as hopes grew of a rate cut from the Federal Reserve in December. As the month ended, there were some signs of a Christmas rally beginning in the US, with US markets posting their best Thanksgiving week since 2012.
	November 2025 The US Federal Reserve made its second consecutive rate cut in 2025, lowering the Fed Funds rate to 3.75%–4.00%, but suggested a December cut “is not a foregone conclusion”. The European Central Bank held its Bank Rate at 2.00%, with the bank’s president announcing, “From a monetary policy point of view, we are in a good place.” The Japanese stock market surged as the country’s new president was confirmed in office, switching coalition partners. Buffeted by US–China trade battles and concerns about AI-related capital expenditure, it was a volatile month for US shares, which still landed in positive territory largely due to technology stocks. The Korean stock market had an outstanding month, jumping by almost a fifth. Government bond yields changed little in the US and Eurozone, but fell in the UK on better than-expected inflation data. As the month ended, the US government shutdown was on course to break the previous 35-day record, also under a Trump presidency. So far, investors remain unconcerned despite the disappearance of most government economic data.
	October 2025 The US Federal Reserve made its first rate cut of 2025, bringing the Federal funds rate down to 4.00% – 4.25%, with at least one more reduction expected by the year-end. The Bank of England’s Bank Rate held firm at 4.00%, as Consumer Price Index (CPI) inflation remained unchanged at 3.8%, and estimates for the November Budget black hole moved up towards £30 billion. Overall, European markets were up over the month. Despite the replacement of yet another French prime minister, the French market rose, while in Germany matters were more stable and the Dax was virtually unchanged. After August’s notably strong performance, Chinese mainland markets were up over 10% in September. Government bond yields stabilised in developed Western markets, although 30- year yields remain close to their 2025 highs. At the end of September, the US government shutdown, yet again, with equity and bond markets seemingly unruffled by the news.
	September 2025 At the Jackson Hole gathering, the chair of the Federal Reserve indicated that interest rates could be cut at the next meeting. Meanwhile, Trump attempted to fire a member of the Fed’s board. Despite a 0.25% Bank Rate cut from the Bank of England, the FTSE 100 was little changed over the month as concerns grew about what might be in the Autumn Budget. European markets were mixed, with Germany and France both down about 1%. The risk of another budget-driven defenestration of a French prime minister marked the end of the month. Chinese markets enjoyed a strong month, with the Shanghai Composite up 8%. 30-year Government bond yields continued to climb in developed markets as worries about deficits grew. At the end of August, a Federal Appeals Court ruled that Trump’s ‘emergency’ tariffs were illegal, but left them in place until mid-October, pending an appeal to the Supreme Court.
	August 2025 Ahead of the 1 August tariff deadline, the US struck deals with Japan, the EU, and South Korea at a 15 per cent tariff rate, while new tariffs were imposed on Canada, India, and Taiwan. The Federal Reserve and European Central Bank held interest rates steady, with the Fed resisting pressure from Trump for cuts. The FTSE 100 closed above the 9,000 mark for the first time, ending July up 4.2 per cent, while the S&P 500 gained 2.2 per cent and the NASDAQ 3.9 per cent. Nvidia and Microsoft both briefly exceeded valuations of $4 trillion, together making up almost 15 per cent of the S&P 500. UK dividend payments fell 1.4 per cent year-on-year, though regular dividends rose 6.8 per cent once currency effects and specials were excluded. European markets edged higher overall, though Denmark fell sharply on Novo Nordisk weakness, while Spain and Portugal led gains. Asian markets were mixed: Japan rose 1.4 per cent, Hong Kong 2.9 per cent, and Taiwan 5.8 per cent before new tariffs – Thailand and Indonesia surged after tariff reductions. Emerging markets advanced 1.7 per cent overall, led by China (+3.7 per cent), though India’s Nifty 50 fell 2.9 per cent on new tariffs.
	July 2025 War in Iran caused a brief spike in the price of oil before normal service was resumed with Brent trading in the mid-$60s. The US stock market finished the month at a new all-time high, while the US Dollar Index fell to its lowest level in over three years. The Bank of England and the Federal Reserve held rates unchanged, but the European Central Bank made a 0.25% cut and the Swiss National Bank returned to a zero policy rate. US, Japanese and UK government bond yields fell marginally, while European yields nudged upwards. For the first half of 2025, global equity performance in sterling terms, as measured by the MSCI ACWI, was 0.3% underwater. The fall was mainly due to the dominance of US equities in the index and the weak dollar.
	June 2025 While US tariffs continue to yo-yo, markets are increasingly confident that President Trump’s bark is worse than his bite. UK inflation jumped to 3.5% for April, although much of the increase was anticipated. The Bank of England made a 0.25% cut to the Bank Rate, but the Federal Reserve was unmoved, awaiting tariff developments. 30-year government bond yields rose in the US, Europe, UK and Japan, with the latter’s 2055 bond yield reaching an all-time high of 3.2%.
	May 2025 Donald Trump’s announcement of “reciprocal” tariffs on 2 April set the scene for a turbulent month in the markets. The tariffs were subsequently paused, reversed, increased, and/or redefined. Despite the volatile stage set by tariffs, many world equity indices ended April much where they had started. The European Central Bank made another cut in its deposit rate to 2.25%. Neither the Bank of England nor the Federal Reserve met in April, but the Fed – and its chair, Jay Powell, in particular – attracted Trump’s attention. The month ended with the US recording its first quarterly economic contraction – a decrease of 0.3% on an annualised basis – in three years.

“The information in these articles is for general information purposes only and do not constitute financial or investment advice. You should seek advice tailored to your personal circumstances before making any investment decisions.

Any forecasts or forward-looking statements are based on assumptions and are not guaranteed; actual outcomes may differ. Investments in overseas markets are subject to currency fluctuations.

The value of your investments, and the income they produce, may go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future performance. Investing in stocks and shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and your financial circumstances.