Marcus Ashworth

With gold having doubled since 2023, it’s properly profitable again for banks to offer full service, as it captures the whole value chain.

Gold bugs’ bankers take a step back in time

Clients increasingly want to hold gold as a portfolio hedge, so banks are responding with old-fashioned customer service and commensurate fat fees

Balconies on residential properties in London, UK, on Monday, June 2, 2025. At least 10% of the UK's wealthy non-dom population have left the country following tighter tax rules introduced by Prime Minister Keir Starmers Labour government, according to a new report authored by a former Treasury economist. Photographer: Jason Alden/Bloomberg

Britain forgot subsidised housing needs a subsidy

[LONDON] There’s no shortage of explanations for Britain’s affordable-housing emergency – overregulation, environmental worries, planning bottlenecks, labour shortfalls or a toxic combination...

If experience over the last decade holds true, a too-strong euro is the last thing the euro area needs.
THE BOTTOM LINE

A strong euro isn’t what the doctor ordered

A strong, competitive economy can take a firmer currency in its stride, but a struggling euro economy growing at barely 1% is a...

Global equities are in rude health, government bond yields are becalmed and oil is trading in line with its five-year average. The dollar is the only casualty, losing ground against all of its peers in the past six months

Markets are learning to keep calm and carry on

The capriciousness of the world’s most important person means that staying nimble and being willing to scuttle to the sidelines will remain...

A trader working on the floor of the New York Stock Exchange. Recent ructions in US Treasuries mostly reflect a well-functioning machine clearing out a well-documented excess of leverage, says the writer.

There isn’t a practical alternative to US Treasuries

American government debt is the world’s benchmark for a reason – and that hasn’t changed

The ECB has so much hard work ahead if the euro area is to avoid another grim downturn.

For ECB rate cutters, the music is as important as the words

Beyond reducing restrictive monetary policy, the central bank must really start looking after the interests of the whole euro area

The Chancellor of the Exchequer Jeremy Hunt needs to intervene, if the FCA doesn’t backtrack. Otherwise, the UK will move out of step with other global regulators by holding UK firms to overly stringent oversight.

London watchdog’s name-and-shame plan is mad, bad and dangerous to the City

The UK regulator’s attempt to increase the transparency of its investigations has prompted a storm of protest

The Bank of Japan is ahead of the game, signalling this week that less emphasis will be placed on ensuring its medium-term inflation outlook has to be 2 per cent.

Central bankers’ 2 per cent inflation target regime should now be retired

With the energy shock now a memory, central bankers require more flexible objectives

The UK economic backdrop is becoming increasingly benign.
WEALTH & INVESTING

Sterling assets offer lucrative places to hide

UK bonds and stocks are attractive places to park money in the coming months

The sharp appreciation of the US dollar through 2021 and much of last year caused a lot of problems in developed and developing countries alike; they will be thankful for the respite as the value of the greenback eases.  
THE BOTTOM LINE

The US dollar’s coming slide will be welcomed by the world

The greenback is set to weaken as the Fed changes its monetary policy stance