The Art of Investing

Reeves Budget Breakdown: Why We Are Reducing Our FTSE 250 Position

15 snips
Nov 28, 2025
This week, the hosts dive into the UK Budget’s unexpected twists, sparking a lively debate on whether it truly supports growth or merely serves political interests. They explore market reactions, including the wobbling pound and volatile gilts. The chatter shifts to US market strength, the possibility of a Santa rally, and contrasting growth strategies between the US and UK. Tangled tax thresholds and hidden hikes come under scrutiny, while discussions about housing concerns and crypto's recent turbulence add to the mix.
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INSIGHT

Beige Book Shift Sparks Dovish Fed Bets

  • The US Fed's Beige Book signalled a weakening jobs outlook that swung policy makers dovish.
  • This shift raised market odds of a December US rate cut and sparked a broad equity rally.
INSIGHT

AI Chip Noise Did Not Kill NVIDIA's Near-Term Case

  • NVIDIA volatility was driven by Meta considering Google TPUs as a longer-term hedge.
  • The market moved sharply but the change poses little near-term revenue risk for NVIDIA.
ANECDOTE

Budget Leak Caused Rapid Market Swings

  • Rich recalled the budget leak that allowed immediate market moves and later required an investigation.
  • He said the leak and subsequent reactions led to rapid gilt market swings and millions made or lost in minutes.
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