Guinness Global Investors uses RBC Brewin Dolphin as an investment adviser for the Multi Asset Fund range
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Head of Market Analysis, Janet Mui, breaks down the recent semiconductor stock sell-off and the latest U.S. economic data.
Key Highlights
Middle East conflict:
Escalating tensions spread from the Strait of Hormuz to the Red Sea, pushing Brent crude oil prices to above $100 per barrel and renewing inflation concerns.
Bond yields and rate expectations:
Yields rose across developed markets as oil rebounded, with rate hikes increasingly priced in by the U.S. Federal Reserve, European Central Bank and Bank of England.
AI investment promise:
Alphabet raised capital expenditure guidance to up to $205 billion while Google Cloud revenue surged 82%, providing evidence that AI spending is beginning to translate into commercial growth.
