AJ Bell Money & Markets

Deep Dive #5: Does Rachel Reeves have a bond market problem?

It’s three years since the Truss/Kwarteng mini-budget which sent the bond market into meltdown. In this Deep Dive we’ll be looking into the nitty gritty of bonds while also discussing the big picture and asking why UK bond yields are so high, and what effect that may have on the budget in November.

(02:10) Laith and Danni are joined by Ian Aylward, head of investment partnerships at AJ Bell, to discuss what bonds are and what factors affect prices.

(17:39) Laith talks to Rupert Harrison, senior adviser at PIMCO and formerly Chief of Staff to George Osborne when he was Chancellor. Rupert gives his views on what is driving higher UK government borrowing costs and what the bond market wants from Rachel Reeves in the forthcoming budget.

 

(41:52) Ian, Laith and Danni talk about why people invest in bonds, and discuss the bond funds that are available to investors.

 

(53:13) Laith talks to Alex Ralph, fund manager of the Nedgroup Global Strategic Bond fund, about how she picks bonds and how she sees the market right now.

Interest rates, State Pension to rise, Alphabet joins $3 trillion club, Trump’s TikTok deal and where fund managers see value

In this week’s AJ Bell Money & Markets podcast, we look at the latest interest rate moves in the UK and US and what they mean for markets, savers and borrowers [01:25]. Also in markets news we’ll take a look at the US-UK investment story, and dip into news that Alphabet has joined the $3 trillion club [07:50] and Trump and TikTok deal that means it stays in the US [10:14]. We then turn to the state pension triple lock, as the latest wage figures play a crucial role in setting next year’s increase [13:09]. 

Sticking with pensions, Charlene Young and Laura Suter discuss a new move from the taxman on pension tax relief and what it could mean for those claiming extra relief [17:45]. Charlene also delves into new AJ Bell research on how people’s expectations for retirement compare with the reality of what retirees actually spend [21:55]. 

Later in the show, Dan Coatsworth speaks with Ben Preston from Orbis Global Equity Fund about why he has less invested in the US than a typical global fund, why he’s backing the UK, and his investment in Nintendo [28:20]. Dan also interviews Daniel Avigad from Lansdowne European Special Situations Fund about whether investors have missed the boat on Europe’s strong stock market performance and why the owner of Ray-Ban is catching his attention [39:04]. 

Pile the pounds on your pension, plus mining mergers and rare earths

On this episode of the AJ Bell Money & Markets podcast Dan Coatsworth and Danni Hewson are joined by AJ Bell’s pension guru Rachel Vahey ahead of pension awareness week.

They discuss a new advert fronted by former Eastender star Ross Kemp which hopes to persuade people to engage with their pension in the same way they engage with their physical fitness. Rachel shares some top tips to make sure your pension is fighting fit. [01:33]

In markets news, Dan digs into Anglo American’s gigantic bid to take over Canadian copper miner Teck Resources [19:46]. Danni discusses why it’s a tricky time for UK retailers like Dunelm and Primark [23:00]. As Tesla’s share of the US electric vehicle market falls to an eight-year low, the pair assess Elon Musk’s proposed $1 trillion pay deal. [27:51]

Find out how geopolitical instability is affecting markets [33:00] and learn how investors reacted to a judge temporarily halting Donald Trump’s firing of Federal Reserve governor Lisa Cook ahead of next week’s US interest rate decision [35:06]. Dan also discusses the companies going in and out of the UK’s top stock market indices. [39:15]

This week’s special guest is George Bennett, chief executive of Rainbow Rare Earths who discusses how his company hopes to take advantage of demand for minerals crucial to technology we use daily. [41:42]

Inflation and economic reshuffles in the UK, scandal at Nestle and the latest on Trump and the Fed

The AJ Bell Money & Markets podcast is back after the summer break, with Charlene Young and Danni Hewson unpacking the big stories shaping markets and personal finance. We kick off in the UK, where inflation has jumped again, and a reshuffle in the Prime Minister’s economic team has sparked fresh Budget rumours – including a possible bank windfall tax that sent shares sliding [11:20].

Across the pond, all eyes are on the Federal Reserve [15:20], while Donald Trump’s tariffs face a legal challenge that could reset trade dynamics.

We then dive into a timely interview: Danni speaks with Marcus Jennings, fixed income strategist at Schroders, about why UK gilt yields have jumped to 30-year highs and what that means for borrowers, investors and the government’s finances [22:40].

In company news, we cover Nestlé’s search for a new CEO, BYD’s profit stumble[37:00], and Alibaba’s AI push – with Nvidia back in the spotlight as AI momentum shows no sign of cooling. Finally, Charlene looks at the back-to-school squeeze on family finances and explains how the September extension of free childcare hours could help parents – and who misses out. [46:20]

US trade deal with Japan as earnings season kicks off, pensions and IHT plans confirmed, and 24-hour trading on the LSE

In this week’s Money and Markets podcast, Tom Sieber and Charlene Young discuss the latest twist in the tariffs saga as the US and Japan announce a deal and explore the early results from the US earnings season, with updates from JPMorgan, Citi, Coca-Cola and Netflix [04:04].  

They also look ahead to what investors can expect from the big tech names due to report next week, including Microsoft, Apple, Amazon and Meta [10:12]. 

They also discuss a major proposal from the London Stock Exchange to introduce 24-hour trading and what that could mean for retail investors [12:20] and there’s boardroom news at BP as the energy giant appoints a new chair [14:04]. 

Back in the UK, the government has announced the final proposals around pensions and inheritance tax [16:08], and the State Pension age is also under review again [24:02]. 

This week’s episode also features two interviews: Martin Gamble speaks to Jacopo di Nardo from Latitude Investment Management about Diageo and the impact of the recent CEO departure [27:27], and Dan Coatsworth talks to Schroder Asia Pacific portfolio manager Abbas Barkhordar about the vibe in Asia around those US tariffs [40:44]. 

Finally, with summer holidays in full swing, Tom and Charlene look at a story involving Ryanair, oversized luggage, and a rather inventive employee bonus scheme [51:47]. 

Note: The podcast is taking a short summer break and will return in early September. 

Inflation on the rise, FTSE hits 9,000, and the Chancellor announces sweeping reforms to financial services

In this week’s AJ Bell Money and Markets podcast, Laith Khalaf and Tom Selby dive into what’s been moving in markets, from the FTSE hitting 9,000 (01:17) to Bitcoin hitting a record high [04:10].

We’ll also be talking through the latest inflation figures to come out of the UK and US and what that might mean for interest rates [11:25].

The Chancellor has delivered her annual Mansion House speech to the city, and there were a lot of big changes announced. Laith and Tom discuss ISAs [14:52], boosting retail investing and changes to the banking and mortgage market [29:42].

Finally we have an interview with Lynda Shillaw, CEO of the property development company, the Harworth Group, about trends in the sector and Harworth’s promotion to the FTSE 250 [34:20].

OBR report fuels tax rumours, Trump tariffs update and will investors lose patience with Elon Musk?

In this week’s AJ Bell Money and Markets podcast, Charlene Young and Danni Hewson dive into the latest financial news, from Trump’s latest tariff manoeuvres [02:00] to Elon Musk’s surprise announcement of a new US political party and what that could mean for Tesla [08:47]. They explore how markets are responding to these unpredictable headlines, including the impact on copper prices [06:00] and the so-called "TACO trade."

Back in the UK, there have been some big developments affecting housebuilders [12:57], an underwhelming preview from Shell [14:58], and pressure mounting on the government’s finances [17:39] — particularly the ballooning cost of the State Pension triple lock.

The episode also sheds light on a worrying HMRC issue: over 600,000 people have been fined for not filing tax returns despite owing no tax [21:31]. Later in the show, Shares magazine’s Tom Sieber spotlights his investment trust dividend heroes [24:51], and James Flintoft joins Danni to analyse AJ Bell fund performance in Q2 and what may shape markets in the second half of 2025 [29:13].

Investment Trust Show: Income special and the quest to make five times your money

It’s time for your monthly bonus episode of the AJ Bell Money & Markets podcast all about investment trusts. Kicking off the show is Tom Sieber on the wave of trust takeovers. [01:25]

We’re going big on income in this episode of the podcast. Dan Coatsworth talks to Joe Dowling from the Invesco Global Equity Income Trust on how he finds opportunities to help generate a steady trickle of cash for shareholders. [04:17]

Dan also talks to Iain Pyle from Shires Income on alternative ways of generating an income than simply having a portfolio of dividend-paying shares. [18:15]

Laith Khalaf and Tom talk about trends with premiums and discounts in the investment trust world. [30:47]

Finally, Dan talks to Richard Staveley from Rockwood Strategic on what it takes to find stocks that make you five to 10 times your money. [39:53]

New rumours about Cash ISA allowance cut, and paying tax as a Vinted seller

This week’s episode of the Money & Markets podcast explains why Sainsbury’s and Greggs are experiencing different fortunes. [00:48]

Charlene Young addresses the latest rumours about income tax and a potential cut to Cash ISA allowances. [06:12]

Dan Coatsworth explains why Lifetime ISAs are back on the political agenda. [13:36]

New data suggests there is a serious problem of takeover news being leaked before official announcements. Dan dives into this topic. [18:55]

If you’re one of the growing number of people selling goods on Vinted or Ebay, Charlene considers the level of sales that attract the tax man’s attention. [22:40]

As schools prepare to break up and people take time off work for their summer break, the podcast reveals a worrying scam aimed at holidaymakers. [25:50]

The clock is ticking on the end of Trump’s 90-day tariff negotiations, so Dan considers what could happen next and how markets might react. [28:59]

This week’s special guest is someone directly impacted by the new tariff regime. Greg Eckel invests in Canada and he talks to Tom Sieber about the impact of Trump’s policies and the long-term prospects for Canadian stocks. [32:46]

Markets on edge, Bitcoin on the balance sheet, and the rise of Rosebank

This week on Money and Markets, Dan and Laura break down how Middle East tensions are shaking up oil, gold, and travel stocks [1:45], and what the latest results from FedEx and Halfords tell us about consumer confidence and global trade [7:00]. 

In our personal finance section, we explore the cut to Premium Bond prize rates and why loyalty to your savings account might be costing you [13:00]. We also look at the rise of companies putting Bitcoin on the balance sheet [23:50] - and share a strange new scam story you’ll want to hear [57:04]. 

Our interview is with the team at Evenlode, discussing why their global equity funds are cautious on the US and why they avoid the obvious bets [34:44]. And we wrap up with a spotlight on Rosebank, the Melrose spinoff that just raised £1.1 billion in one of AIM’s biggest fundraises in years [47:31].