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Weekly Espresso

As expected, in a week where US President Trump reposted bizarre and offensive AI videos of House Minority Leader Hakeem Jeffries, promoted a “med-bed” conspiracy video, and announced plans to use “dangerous cities” as “training grounds” for the US military, he failed to stop a US government shutdown during last week’s negotiations.

It’s the first US government shutdown since the 35-day shutdown in December 2018…

Weekly Espresso

On Tuesday, Fed Chair, Jerome Powell, reiterated the need for the central bank to balance the competing risks of high inflation and a declining job market when making interest rate decisions. Powell called it “a challenging situation” and said there was no “risk-free path” for the Fed to follow.

The outlook for the UK

The recent rise in 30-year gilt yields has received a lot of interest. With this long-dated government debt reaching a 27-year high at 5.7% (3rd September 2025), investors are naturally questioning the implications for the UK. It could heavily influence how Rachel Reeves manoeuvres within the limited fiscal headroom available in her (more winter than) Autumn Budget.

Yet despite these pressures, there are encouraging signs for the UK…

Weekly Espresso

The US Federal Reserve committee voted to cut interest rates for the first time in nine months. The committee voted 11-1 in favour of the 0.25% cut, with Trump appointee, Stephen Miran, the only member calling for a larger 0.5% reduction.
Federal Reserve Chair, Jerome Powel, said after that “the balance of risks has shifted” away from inflation to concerns about the labour market. Though it remains to be seen what will happen next, with Powell stating “we’re not on a pre-set path” towards further cuts.

Weekly Espresso

While waiting for the outcome of this week’s Federal Reserve meeting, US markets performed well last week.

A huge 30% boost in the price of Oracle shares drove markets up and generated some fresh AI enthusiasm. The database software maker has seen demand for its cloud services increase as AI companies seek the vast datacentres they need to power their technology. Oracle showed off some hefty growth prospects in their annual earnings reports. They actually missed their earnings and revenue estimates, but what got investors really excited was the prospect of 77% growth in cloud infrastructure revenue in 2026. On the back of this, Oracle have set new cloud infrastructure revenue targets of $32bn, $73bn, $114bn and $144bn subsequently over the next four years.

Cappuccino Commentary

We’ve seen decent returns across various asset classes over the last three months and again in August. Equity markets showed their ability to climb the “wall of worry” despite complex geopolitical tensions, trade policy developments and monetary policy uncertainty.

Understanding the risks

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