AJ Bell Money & Markets

This week on the AJ Bell Money & Markets podcast, Charlene Young and Danni Hewson unpack the latest developments in global markets, from oil price volatility and the Strait of Hormuz to US inflation, bank earnings and what it all means for interest rates. They also assess Rachel Reeves' latest Mansion House speech and the outlook for UK economic growth.

Tom Sieber joins the show for a busy week of company news, with easyJet, Marks & Spencer, TikTok Shop, IBM, Barratt Redrow, PageGroup, Hays all making headlines.

Plus, Charlene explores the fastest fall in mortgage rates for almost two years, reveals what the latest HMRC figures tell us about Britain's growing tax burden, and looks at where holidaymakers will get the most value from their spending money this summer.

 

Topics covered
[00:08] Introduction & market roundup
[02:09] Strait of Hormuz, oil prices and global trade
[10:41] US inflation, bank earnings and interest rates
[13:41] Rachel Reeves' Mansion House speech
[15:50] easyJet update
[17:23] Marks & Spencer and TikTok Shop
[23:14] Buy Now, Pay Later regulation changes
[25:26] Shares magazine highlights with Tom Sieber
[27:33] IBM results and tech spending trends
[30:07] PayPal takeover approach
[32:28] Barratt Redrow update and shareholder returns
[35:23] Recruitment sector outlook: PageGroup & Hays
[38:01] Paramount-Warner Bros deal challenges
[40:10] Mortgage rates fall sharply
[42:00] HMRC tax data and fiscal drag
[46:43] Holiday spending money: where the pound goes furthest

Have you ever held Premium Bonds for years without winning a prize?

You're not alone. In this week’s AJ Bell Money & Markets podcast, Dan Coatsworth and Charlene Young reveal fascinating insights into Premium Bonds and explain what millions of holders who have never won a prize could have earned elsewhere.

They discuss the eye-watering increase in probate costs, a report branding student loans as ‘mis-sold’, and what Terry Smith’s latest shareholder letter could mean for investors in the Fundsmith Equity Fund.

In the markets section, we cover Sky’s move for parts of ITV, the latest twist in EasyJet’s takeover story, and some intriguing developments at SpaceX. Dan also discusses the market sell-off as Donald Trump says the US/Iran peace deal is over.

Finally, AJ Bell investment experts Ryan Hughes and James Flintoft join Hannah Williford for a lively debate on artificial intelligence, its investment potential, and whether the hype is justified.

0:00 Introduction

2:05 Premium Bonds: what millions of savers may be missing

5:19 Probate costs set for a dramatic rise

12:06 Student loans branded 'mis-sold'

18:11 Is Terry Smith reinventing Fundsmith Equity fund?

24:39 World Cup fever and the UK economy

26:34 Sky buys parts of ITV

30:06 EasyJet takeover speculation

31:59 Market sell-off as peace deal falls apart

33:45 This is what brokers are saying about SpaceX 36:20 AI investing debate

In this episode of the AJ Bell Money and Markets podcast, Charlene Young and Sarah Coles discuss the dash for cash ISAs ahead of allowance changes, what Andy Burnham could mean for your money, the financial side of marriage amid rumours around Taylor Swift and Travis Kelce, why July matters for the self-employed, and JISA performance data. Meanwhile, 16-year old Tilly joins them to share her perspective on what should be done about lost Child Trust Funds.

Dan Coatsworth rounds up the week’s market news, including updates on Associated British Foods, Sainsbury’s and gold, and speaks to Paul Niven from F&C Investment Trust about what recent market movements mean for investors.

 

[00:09] Intro

[01:29] Associated British Foods results

[02:48] Sainsburys Update

[03:54] Gold loses its shine

[05:03] Interview Paul Niven, manager of the F&C Investment Trust

[12:43] What Andy Burnham’s approach means for your money

[19:52] The dash for cash ISAs continues

[24:02] July deadline for self-employed

[27:12] Taylor Swift and the benefits of marriage

[35:06] Tooth Fairy inflation

[38:13] Junior ISA performance

[42:14] Lost child trust funds

Political turmoil is shaking the UK as the nation awaits a new prime minister. Danni Hewson and Dan Coatsworth break down what an Andy Burnham victory could mean for markets, your investments and your money – plus the potential next Chancellor.

We also cover falling oil prices, tech stock volatility, SpaceX’s wild IPO ride, and big moves from takeover target EasyJet.

In personal finance, Rachel Vahey explains major tax-related changes to ISAs and plans for a new First Time Buyer ISA, while Ruffer’s Ian Rees joins us to debate whether the classic 60/40 portfolio still works.

Burnham PM? Markets, chancellor contenders & your money [0:01:36]
Oil plunges as US–Iran talks progress [0:12:31]
Tech stocks hit – should you worry? [0:15:43]
SpaceX IPO chaos: shares swing wildly [0:20:33]
EasyJet rejects takeover bid [0:25:31]
Cash ISA changes explained [0:30:46]
New ISA for first-time buyers? [0:35:05]
Is 60/40 dead? Ruffer's Ian Rees weighs in [0:38:08]
Heatwave winners and losers: who is in the frame? [0:55:08]

In this month's special deep dive podcast, Tom Seiber and Hannah Williford explore how to invest around the world, and where there may be some hidden opportunities. They discuss the pros and cons of active and tracker funds for global exposure. Plus, Hannah speaks to AJ Bell's Paul Angell on what he prioritises when choosing active managers for different regions. 

Martin Gamble joins the duo to reveal his research on how different regions stack up on valuations, and Tom shares where AJ Bell investors are looking most frequently. Finally, Eve Maddock-Jones speaks to John Citron on the challenges and benefits of investing in emerging markets.

Timestamps:

[00:09] Introduction: Tom Sieber and Hannah Williford introduce the episode and explain why overseas investing matters for UK investors. 

[01:43] Global trackers, ETFs and active funds: how UK investors can access overseas markets, compare costs and indices, and understand how managers pick global stocks. 

[12:50] Interview with Paul Angell: the pros and cons of using fund managers who are based in the regions where they invest. 

[25:45] Comparing global markets with Martin Gamble: how different regions stack up on valuations, dividends and the types of companies that dominate each market. 

[31:32] Buying overseas shares directly: market opening hours, dealing access, minimum trade sizes and practical issues for UK investors. 

[39:15] Interview with John Citron: the challenges of managing an emerging markets portfolio across lots of different countries. 

[51:20] Final takeaways: Tom and Hannah recap the key lessons from the episode and wrap up the podcast. 

This month, the Investment Trust Show focuses in on what makes trusts so unique: from gearing to boards. Hannah Williford and Dan Coatsworth discuss the pros and cons before seeing how they measure up against their sister funds through the numbers. Nick Britton from the Association of Investment Companies joins to explain where the differences emerge.
AJ Bell’s Tom Sieber also steps in to interview Utilico Emerging Markets chair Mark Bridgeman to understand what role a board is really playing. Then, two funds investing in private equity, Seraphim Space Investment Trust and ICG, discuss where opportunity lies off the market, and how Seraphim has grown its share price by over 300% in a year.

00:00 Introduction: What makes investment trusts unique

04:30 What does a trust board actually do? (Tom Sieber & Mark Bridgeman)

19:00 Investment trusts vs funds: Who wins? (Nick Britton, AIC)

33:20 Private equity explained: Inside ICG Enterprise Trust (ICG Colm Walsh)

47:45 Space & defence boom: Seraphim Investment Trust (Mark Bogget)

01:06:45 Outro & key takeaways

Less than a year after joining as BP Chairman Albert Manifold has been removed from the company. What does it mean for BP’s turnaround plans is the question that kicks off this episode of the AJ Bell Money and Markets podcast and Danni Hewson and Tom Sieber assess how investors reacted to the news [02:18]. Concerns over Middle East peace talks has seen choppy trade in oil and the price of energy has been in the spotlight as the UK’s new price cap was announced [07:30]. Temperatures might have soared over the late May bank holiday, but B&Q says a late start to spring dented sales and weak consumer spend also took a chunk out of Pets at Home’s full year profits [13:45] plus Ferrari’s first EV has provoked some extreme reaction on social media [23:28]. On the personal finance front, Rachel Vahey is back with another pensions corner, this time chatting about a worrying report from the Pensions Commission which found 15 million people are under saving for retirement [27:15] plus former PM Rishi Sunak’s warned that 4 in 10 Brits lack basic financial literacy with calls for more education to help people make smart financial choices [38:08]. And our guest interview this week is with Andrew Lapping, chief investment officer at Ranmore Fund Management; he’s spoken to Dan about why he’s still a fan of Greggs [44:33].

Cyber shocks, political ripples and pop-powered spending – it’s another packed week on the AJ Bell Money & Markets podcast. Charlene Young and Danni Hewson break down the latest inflation and jobs data, before turning to bond market jitters as political drama heats up.

There’s pressure building for businesses too, as Ryanair flags rising fuel costs, and Marks & Spencer and Jaguar Land Rover lay bare the growing financial toll of cyber attacks. We also dive into the forces reshaping what was formerly the UK high street, with more big banking brands on brink of disappearing completely, and unpack what a potential mansion tax could mean for homeowners.

Plus, two insightful interviews: one exploring how supply chains are becoming a major investment theme, and another on the critical mineral antimony as surging demand drives the reopening of an Australian mine. And to finish, we move from hard economics to headline acts, and look at how Harry Styles’ Wembley run could generate over £1bn in spending, proving the experience economy is alive and well.

[00:00] Introduction

[01:46] Inflation & jobs – what the latest data tells us

[09:35] Gilts, politics & the Makerfield by-election ripple effect

[12:10] Ryanair warns on rising oil prices [

15:26] M&S & JLR – counting the cost of cyber attacks

[21:39] Interview: Supply chains with Jamie Mills O’Brien (Aberdeen)

[34:13] Bank brands that are set to disappear – Halifax rumours & TSB confirmed changes

[36:39] Mansion tax consultation – what’s on the table

[40:44] The £1.1bn Harry Styles effect

[45:07] Interview: Antimony & critical minerals with Ron Heeks (Larvotto Resources)

[54:13] Closing thoughts

In this Deep Dive episode, Tom Sieber and Danni Hewson take a closer look at income investing. Experts from AJ Bell and Jupiter Asset Management join the podcast to discuss common dividend mistakes investors make, the power of compounding and dividend reinvestment, getting income from Asia and how to generate cash through property, infrastructure, and bonds.

00:08 – Introduction: Tom Sieber and Danni Hewson introduce the episode and the evolving world of income.
02:10 – Why people invest for income and the power of compounding.
06:50 – Dividend basics: Tom Sieber explains some of the key points every investor should understand.
09:40 – Danni Hewson looks at share buybacks vs dividends and current UK trends.
17:56 – Tom Sieber then frames the debate around dividend yield vs dividend growth and why you might look for the latter over the former.
23:39 – AJ Bell head of markets Dan Coatsworth joins to talk about common dividend investing mistakes.
30:57 – AJ Bell fund and investment trust writer Eve Maddock-Jones delves into the world of income funds and trusts and the advantages of diversification.
34:45 – Tom talks to Jupiter Asian Income fund manager about why he thinks the region can be a fruitful source of income and growth.
48:34 – Tom explains how you can also derive income from the financial markets through property funds, infrastructure, and bonds.
55:33 – Tom talks to Paul Angell about the role of bonds in an income portfolio.
01:11:36– Tom and Danni wrap up with the key takeaways from the episode including what they’ve learned about income investing.

Join Dan Coatsworth and Charlene Young in the latest edition of the AJ Bell Money & Markets podcast. This week, we delve into the impact of politics on financial markets, focusing on UK government bond yields and the concept of 'bond vigilantes'.

Charlene discusses why age 28 is a critical financial year for women, leading to significant pension disparities. We also explore a new report highlighting the risk of pension poverty for 12.2 million UK adults and what can be done to mitigate this issue.

Special guest Sarah Willingham, former Dragon's Den judge and now CEO of bars group Nightcap, shares her insights on the challenges facing the hospitality sector. Plus, we revisit some of the success stories from Dragon's Den.

Dan also talks to Joe Winkley from Winterflood Securities about why retail investors are starting to have greater opportunities to support company growth plans.

Tune in for a comprehensive look at these pressing financial topics and more. Don't forget to like, subscribe, and hit the notification bell to stay updated with our latest episodes.

0:09 – Impact of politics on financial markets and the power of ‘bond vigilantes’

12:06 – Greggs goes to Tenerife

14:35 – Age 28: Financial crunch year for women

24:10 – Risk of pension poverty for 12.2 million UK adults

28:23 – Interview with Sarah Willingham from Nightcap

50:59 – Business winners and losers from Dragon’s Den TV show

54:12 – Tom Sieber on the new issue of Shares magazine

56:25 – Opportunities for retail investors to support company fundraisings