Review of the week

Gold hit an all-time high last week, just in time for Valentine’s Day. But it’s not lovers who are doing all the buying.

Despite a whirlwind week of tit-for-tat on trade, borrowing costs have fallen back. Will this boon for investors, households and governments outlast the next inflation print?

The White House has issued a flurry of decrees in its first fortnight. While not unexpected, they’re already creating unease in markets and chaos in the government.

A Chinese start-up says it created an AI tool at a fraction of the cost that Western rivals paid. It shouldn’t be a fatal blow, but the development should trigger answers to lingering investor concerns on runaway chip buying.

Government bond yields fell back on better-than-forecast inflation as Donald Trump’s first day in office neared. The big unknown for investors is which tariff policy – we’ve heard many versions – the new administration will land on.

UK government bonds are under pressure, sending borrowing costs rocketing once again. But it’s not only Britain that’s affected, and it mostly stems from across the Atlantic.

After a solid year for investors, albeit with jarring moments and a pervasive uncertainty, what does 2025 have in store?

As 2024 winds down and Wall Street is lit up like a Christmas tree, there’s still plenty to keep us on our toes. Will central banks bring glad tidings?

The outlook for Europe looks cloudy as its two largest economies struggle. Comparatively, the UK is doing generally ok. It’s only the US that continues to power ahead.

A plan to sort out France’s unsustainable state spending is in jeopardy as another government is threatened with dissolution by the parliament. Meanwhile, chances improve for a December interest rate cut in the US.

Developed nations have agreed to a three-fold increase to clean energy and climate mitigation funding for poorer countries, but with a 10-year phase-in. Meanwhile, advanced nations are battling spiralling energy costs – some more than others.

The UK economy hit the wall last quarter, while inflation started rising again. In the US, expectations of interest rate cuts have cooled since Donald Trump was elected President.