Insights

The US government entered a partial shutdown due to healthcare funding disputes. Economic impact depends on duration; markets remain stable, but worker furloughs and data delays pose risks.

Activity levels across our global market-leading debt advisory team remain at record levels, reflecting both constructive market conditions as well as the ever-increasing requirement for structuring creativity along with integrated sector expertise, particularly in complex situations. As always, we would be pleased to talk through the financing markets in more detail or discuss any specific situations.

The 20th-century distinction between security and economics has dissolved. The investors and businesses who adapt to this new reality - recognising co-dependence, building integration and demanding reform - will be those best placed to navigate volatility and seize opportunity in the contested decade ahead. In our latest geopolitical blog, Mark Sedwill, Chair of Geopolitical Advisory at Rothschild & Co, reflects on the context and opportunities for investment in the defence sector.

France faces political uncertainty as PM Bayrou’s minority government risks collapse ahead of a 8 September confidence vote. Budget issues, rising populism, and high debt challenge stability, but market impacts remain limited—for now.

Gold has surged over 25% in 2025, outperforming major asset classes. Its rise defies traditional drivers like real yields and the dollar, instead reflecting geopolitical tensions, central bank buying, and investor uncertainty.

The global economy started 2025 on a solid footing as businesses and consumers rushed to front-run US tariffs by producing and buying more goods. Although several factors have unfolded more constructively than feared, was the drop in economic activity averted, or only delayed?

Bitcoin dominates crypto’s $3.4tn market but lacks utility, stability, and intrinsic value. Stablecoins may offer a more viable, less volatile path for decentralized digital payments and broader financial inclusion.

No parent wants to pass on wealth to their children and watch them fritter it away. Here’s how to give your family the best chance in life while ensuring your wealth is protected for generations to come.

Middle East tensions raise oil price risks, but markets remain calm. History shows geopolitical shocks don’t always trigger financial turmoil. Oil could surge—or fall—depending on conflict spread and trade disruptions.

Achieving a successful business exit is a significant milestone, and navigating this complex process requires careful planning and expert advice. We are proud to support Boardwave in its mission of accelerating success by offering insights and guidance on optimising exits for entrepreneurs.

Not all AI. The strength of VC funding growth (up 3x ytd in the US, up 20% In Europe) is led by AI but it’s not the whole story. To the end of April funding for ‘non-AI’ companies is up 67% yoy in the US and 14% in Europe. Software, biotech and fintech are all prominent – we look at what’s driving this.

Global growth remained relatively resilient in early 2025. However, front-loading of global trade flows, particularly between Asia and North America, greatly distorted the reality. In fact, stagflation and recession risks have both increased significantly.

The last 24 hours highlight the dangers of reactive investing. Despite market volatility from tariffs and trades, the S&P500 saw a major rally. Investors should remain cautious, sticking to their plans amid geopolitical uncertainties and market fluctuations.

The UK's Spring Statement has minimal economic and financial impact. Global investment portfolios should remain unaffected. Only from 2028/9 does policy become more restrictive than it was, with welfare cuts and fiscal tightening.

Germany's Bundesrat has approved a substantial infrastructure and defense spending package, amounting to €1 trillion over 12 years, aimed at boosting economic growth, addressing infrastructure needs, and enhancing European defense capabilities.