Market Review – The Cost of Borrowing
September brought higher interest rates across several major economies, rising long-term government-bond yields and another increase in oil prices. With borrowing costs remaining elevated and traditional diversifiers such as gold …
Weekly Update – Higher Yields, Lower Prices
Long-dated government-bond yields have climbed to levels not seen for many years, improving the income available to investors but inflicting further losses on existing bondholders. For multi-asset portfolios, the question …
Market Review – Everything Advances, Nothing Resolves
August moved several of the year's biggest investment stories forward without resolving them. Renewed conflict over the Strait of Hormuz, rising concerns over US government debt and another surge in …
Why CPI+ Is a More Meaningful Investment Benchmark
T. Bailey CEO Elliot Farley, Client Portfolio Manager Harry Forman-Hardy and Head of Equities Ben Ridley explain why targeting returns above inflation provides a meaningful long-term objective for T. Bailey's …
Weekly Update – US Debt, Rising Bond Yields and Fiscal Risk
US federal debt has passed $40 trillion as long-dated government bond yields climb across developed markets. With investors demanding greater compensation for fiscal and inflation risks, the consequences extend beyond …
Weekly Update – Gold Finds Support as US Jobs Data Weakens
Gold recorded its strongest one-day gain since February as weaker US employment data challenged expectations for tighter monetary policy, while continued central-bank buying reinforced the longer-term investment case. Gold had …
Market Review: Proof of Return
Investors started to ask more basic questions about the AI roll out in July. Not whether the technology will matter to the future of the world, but who earns a …
Quarterly Report: AI, Inflation and the Outlook for Investors
T. Bailey’s Q2 2026 Quarterly Report reviews a period in which equity markets recovered strongly despite continuing geopolitical uncertainty. It examines the powerful influence of AI-related earnings, the changing inflation …
Market Review: A Month of Tests
June was a month in which investors were forced to reassess several long-held assumptions. From geopolitical tensions in the Middle East and changing central bank expectations to questions surrounding AI …
Inside T. Bailey's Approach to Investing in Early-Stage Funds
Successful fund investing isn't just about selecting established names. This insight explores how T. Bailey identifies exceptional fund managers early in their journey, the rigorous due diligence behind every investment …
Weekly Update – A Dollar Reprieve
The consensus trade of the past year has been to favour gold and other real assets while remaining underweight the US dollar. This week's update explores why changing expectations around …
Weekly Update – UK Fiscal Pressure, Gilt Yields and Inflation Risks
The combination of persistent inflation, rising gilt yields and political instability continued pressuring UK financial markets and reinforcing the need for diversification. Last week's UK local elections delivered a sweeping …
Market Review: AI Recovery, Energy Shock and the Inflation Wave Ahead
Global equities recovered sharply in April despite continued disruption in the Strait of Hormuz and elevated oil prices. AI-related holdings and Asian markets led performance, while concerns increasingly shifted towards …
Quarterly Review: Energy Shock, Institutional Risk and Global Market Repricing
Q1 2026 was defined by geopolitical escalation, energy market disruption and growing questions around institutional credibility in the US. Markets responded with sharp volatility, sector rotation and a reassessment of …
Market Review: Energy Crisis, Market Volatility and the Return of Stagflation Risk
A major energy shock drove volatility and raised stagflation concerns. Markets reacted to shifting economic expectations. March was the month that a risk many had been watching from a distance …
Weekly Update – Expensive Energy, Inflation and the Longer-Term Risks
The immediate energy shock may ultimately prove manageable, but its longer-term consequences could be harder to escape. Persistently higher energy costs, structural demand for gold and renewed pressure on UK …
Weekly Update – Energy Shock, Tail Risks and Global Diversification
Markets have rapidly priced the risks of prolonged disruption to Gulf energy supplies, but the political incentives still point towards an eventual off-ramp. Beyond the immediate shock, the crisis could …
Weekly Update – Multipolar Investing and Geographic Diversification
Mark Carney’s Davos speech provides a timely framework for considering geographic concentration, as recent data suggests portfolios with lower sensitivity to US equities have begun to outperform their more US-dependent …
Weekly Update – US Concentration Risk and Portfolio Resilience
Investors increasingly reassessed concentrated exposure to US assets as geopolitical leverage and policy uncertainty challenged assumptions around American exceptionalism. Last week we wrote about the cost of uncertainty and the …
Weekly Update – 2025 Performance Outcomes and Diversification
The T. Bailey funds achieved strong relative performance in 2025, supported by diversification, valuation discipline and resilient multi-asset positioning. For the first weekly update of 2026 we thought it useful …
Water & Waste: An Investment Theme
Why Water & Waste Matters for Investors A growing global need driven by urbanisation, consumption, and resource scarcity Essential services societies rely on every day Resilient, long-term business models with …
Weekly Update – The End of the US Dollar Supercycle?
A tightening Bank of Japan and softer US monetary policy may signal the beginning of a major shift away from the long-running US dollar supercycle. Following last week's US Federal …
Market Review: AI Volatility, Diversification Benefits and UK Budget Stability
Volatility returned as AI sentiment shifted. Diversification across asset classes supported portfolio resilience. November was a largely flat month overall for investors following a long stretch of gains earlier in …
Weekly Update – Fed Rate Cuts, Gold and Fiscal Uncertainty
Last week proved eventful, though largely in line with expectations for financial markets. In the UK, the Bank of England kept base rates unchanged at 4.0% and slowed the pace …
Market Review: Labour Weakness, Policy Uncertainty and Commodity Strength
Weak US labour data and political disruption unsettled markets. Gold reached new highs while equities remained resilient despite macro uncertainty. August began with a downward jolt from the United States, …
Weekly Update – Emerging Markets, AI Adoption and Diversification
Emerging market equities remained attractive due to supportive valuations, structural growth trends and diversification benefits. This week we added to emerging market equity exposure across the fund of funds portfolios …
Weekly Update – Fiscal Deficits, Tariffs and Capital Preservation
Investors continued to assess the implications of rising fiscal deficits, expanding tariff policies and growing questions around long-term fiscal sustainability. US President Trump prepares to dispatch his promised tariff letters …
Weekly Update – US Fiscal Concerns and Portfolio Diversification
Debate surrounding the sustainability of US fiscal policy intensified as investors assessed rising deficits, political uncertainty and long-term debt risks. Elon Musk’s public spat with US President Trump regarding US …
Market Review: Trade Policy Volatility, USD Weakness and Global Equity Rebound
Trade tensions eased in May, supporting a recovery in global equity markets. A weaker US dollar and continued strength in gold reinforced the importance of diversification across asset classes. Following …
Weekly Update – Tariff Legal Challenges and Emerging Markets Opportunities
Legal challenges to US President Trump's tariff authority created more fodder for financial markets to digest this week. A US International Trade Court ruled that most of Trump's reciprocal tariffs …
Market Review: Tariff Shockwaves, USD Weakness and a Gold-Led Recovery
Markets experienced sharp volatility following new US tariff announcements before stabilising later in the month. Gold rallied strongly as investors sought protection from currency weakness and geopolitical uncertainty. Global markets …
Market Review: Tariff Shock, European Stimulus and Commodity Strength
Tariff escalation drove volatility in March, while significant fiscal stimulus in Europe supported regional markets. Commodity strength, particularly in gold and copper, played a key role in portfolio performance. March …
Weekly Update – Europe Stimulus and Diversified Portfolios
Shifting growth expectations between the US and Europe reinforced the value of broad diversification across regions and asset classes. Equity markets are presently reflecting shifting growth expectations between the US …
