US Federal Reserve Chair Jerome Powell downplayed expectations of further rate cuts as slowing job growth contrasts with strong economic performance. Despite uncertainty, Schroders’ Sebastian Mullins expects resilient global growth, moderate inflation, and solid corporate earnings into 2026.

South African bonds have delivered impressive gains, supported by improving inflation dynamics, supportive global conditions and renewed investor interest. Duayne le Roux explains why local bonds may still offer attractive real returns, while cautioning that smart risk management remains essential in the months ahead.

A2X welcomes the Competition Commission’s referral of alleged anti-competitive conduct by the JSE to the Tribunal. The exchange argues that fair competition will lower trading costs, improve liquidity and support market growth, ultimately benefiting investors, listed companies and South Africa’s broader economy.

New research challenges the idea that active managers can’t beat passive investing. The rise of thematic ETFs and retail stock trading has expanded the “active” side of markets, creating more mispricing and opportunities for skilled active managers to outperform, even in the US.

Gold’s surge and AI-driven equity gains have boosted markets, but rising concentration and extreme price moves signal caution. As major tech firms pour billions into AI infrastructure, future returns remain uncertain. Investors may benefit from diversifying into assets still priced attractively.

A year into Trump’s second term, tariffs, tax changes and immigration policies have shaped markets, inflation and employment. While AI investment has supported growth, uncertainty around trade, rates and the labour market remains, highlighting the need for measured investing and diversification.