Time in the Market

In the latest Ben Squared podcast the resident pairing discuss the recent climb in bond yields and the extent to which this does or doesn’t pose a threat to equity and wider bond markets? The conversation also covers recent central bank communication efforts and policy expectations before rounding out on AI earnings performance. This podcast was recorded on 1st September 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pairing discuss first, the most productivity enhancing tech equipment, before focusing on the core subject of US Inflation. The second half of the conversation then pivots to debate the threats and opportunities posed by ‘supply chain disruption’, as international water channels come into sharper relief, catalyzed by the Strait of Hormuz crisis and a VERY hot summer. This podcast was recorded on 17th August 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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After selfishly taking a week break, the Ben Squared Podcast is back to its regular cadence. This week the resident pairing discuss the health of the US jobs market, how such dynamics may shape US interest rate policy and the degree to which Earnings (both US and European) have been driving equity markets. This podcast was recorded on 12th August 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared Podcast the resident pairing review the market’s dominant themes, chiefly the stuttering AI trade, Middle Eastern chokepoints and the central bank policy dilemma. This podcast was recorded on 28th July 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared Podcast Invesco’s Global Head of Research, Ben Jones, returns from his ‘Strategic Family Offsite’ to discuss the latest and most important news in markets. Topics this week include the resurgent kinetic action in the Middle East and what this means for inflation and central bank policy, the volatility within AI stocks and, finally, the appointment of John Healey as Chancellor and whether spending intentions threaten the gilt market. This podcast was recorded on 21st July 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

In the latest episode of our award-winning series we are thrilled to welcome back the likely architect of that award, Emily Roberts, a Global Equities fund manager at Invesco. In this episode the pair revisit the fascinating topic of ‘Investment Psychology’ framing the conversation in the context of current market structure and form. Beyond the relationship between the investment psyche and share prices, Emily also takes some time to reflect upon the impact similar process have on her judgement of company management. A thoroughly engaging 35 minutes, and surely a contender for more silverware! 

This podca...

In the latest Ben Squared podcast Invesco’s Head of UK Government Relations, Graham Hook, takes the spot of our Global Head of Research resident, Ben Jones, who remains on his ‘Strategic Family Offsite’. The conversation necessarily pivots to politics, asking what policy choices might be coming and when, what appointments might be coming and when, and what market reaction we might see… and when!?

This podcast was recorded on 14th July 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair discuss the latest US jobs report and the implications for US interest rate policy. The conversation then moves closer to home as we learn more about the likely next PM’s policy choices, reflecting on the impact on the UK economy and what’s next for UK interest rates. Time is also reserved to discuss the latest bout of volatility in Korean stock markets as volatility again comes to the fore. This podcast was recorded on 7th July 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past perf...

In the latest Ben Squared podcast the resident pair discuss the form of markets (and investment calls) in the first half, offering explanations behind relative performance of regions and asset classes, and expectation for the remainder of the year. Time is also reserved to discuss the latest bout of volatility from AI and AI related stocks. This podcast was recorded on 30th June 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.”

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In the latest episode of our award-winning series we are thrilled to welcome back returning favourite David Aujla, Head of Invesco’s Multi-Asset Funds and Model Portfolio Service, and Neal Bailey, a Market Insights Strategist and talismanic presenter on the Invesco Intelligence Seminar Series. The format sees the guests and host, Ben Gutteridge, each pick a World Cup 11, with no sharing of players, then comparing the characteristics of these selections with relatable asset classes. All in all a very lively and entertaining debate, and hopefully pretty informative for investment purposes too. 

This podcast is for UK Professional Inv...

In the latest Ben Squared podcast the resident pair discuss the meaty topics of the Makerfield by-election, the Bank of England and US Federal Reserve interest rate decisions (and communications) and the ‘openness’ of the Strait of Hormuz. Throughout the conversation the discussion pivots back to the impact upon investment strategy. This podcast was recorded on 22nd June 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair discuss the meaningful developments in US/Iranian diplomacy and the outlines of the formal deal announced by both parties. The discussion reflects favourably on the level of optimism running through markets, though also notes areas of caution to keep a close eye on. Beyond ‘deal making’ the conversation covers a busy week for central banks, and a potentially pivotal one at the Federal Reserve as the New Chair leads his first meeting.

This podcast was recorded on 16th June 2026. *This podcast is for UK Professional Clie...

In the latest Ben Squared podcast the resident pair discuss the material pick up in equity market volatility, focusing on the dominant AI theme. The debate covers the impact of recent earnings, the slew of IPOs hitting the stock market, and an increasingly hawkish narrative for the Federal Reserve. This podcast was recorded on 9th June 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair discuss the new appointment at the Federal Reserve and what impact we can expect him to have over the path of interest rates. Such decisions are not taken in isolation, however, with data having a material impact, hence a necessary review of the latest economic trends. Finally, some time is taken to reflect on the likely path for bond yields and stock markets. This podcast was recorded on 2nd June 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest episode of our award-winning series we are compelled to welcome Ashley Oerth, a Senior Invesco Investment Strategist, back to the podcast! Making a record-breaking 3rd appearance, we are desperate to hear Ashley’s views on why AI associated stocks are running so, so hot, and whether we are flirting with, or already in, bubble territory? We also want Ashley’s thoughts on opportunities outside of AI infrastructure and semi-conductor plays, and why her team’s geographical preferences (at first blush) don’t appear to align with a positive view on the AI theme. 

This...

In the latest Ben Squared podcast the resident pair discuss the latest developments for inflation (both in the US and at home) and the impact this is having on interest rate expectation and bond market prices. Time is also spent discussing the resilience, if not outright strength, of equity markets in the face of this inflationary threat. This podcast was recorded on 26th May 2026.  *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair welcome back returning favourite Graham Hook, Invesco’s Head of UK Government Relations. In a typically lively debate, the conversation centres upon the fate of our current Prime Minister and any potential changes to personnel and policy. In keeping with the Ben Squared mission, however, the discussion concludes by reviewing UK investment strategy, reflecting upon any potential political impact. This podcast was recorded on 19th May 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair briefly discuss UK Local Election outcomes before pivoting to the far meatier topic of US jobs, economic resilience and a ‘ripping’ AI trade. This podcast was recorded on 11th May 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pair discuss the troubling developments in the Middle East. Specifically, the conversation focuses on both the direct and indirect fragmentation of supply chains, threatening further (and more persistent) inflationary pressure. Also on the agenda is the stunning form of AI related stocks, as well as US Federal Reserve personnel matters and Bank of England communication efforts. This podcast was recorded on 5th May 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast our resident pair again discuss the developments in the Middle East, particularly as it relates to investments, focusing on the disparity between what appears a more sanguine view of the equity market versus a more cautious take from the bond market. Also on the agenda is the changing of the guard at the US Federal Reserve and what the next remine may look like, along with some thoughts on interest rate policy in a busy week for the major central banks. Finally, we also offer some brief commentary on the growing appeal of...

In the latest Ben Squared podcast the conversation remains largely centered upon Middle East developments, with particular attention paid to the rapid change in sentiment and heightened confusion regarding the state of ‘openness’ of the Strait of Hormuz. Rather than attempt to iron out all the creases, however, the pair discuss how investment strategy can best manage this confusion, and what elements of proceedings/the data to focus upon. Time is also taken to review the latest jobs and inflation data in both the UK and US, as well as central bank communications, to determine what this may mean for...

In the latest episode of our award-winning series we are thrilled to welcome a returning favourite to the podcast, Ashley Oerth – a treasured Invesco Global Market Strategist. Once again Ashley delivers a fine performance, discussing Artificial Intelligence in both an erudite and accessible manner. The conversation covers lots of ground, including a comparison of AI development and adoption versus history, thoughts on the relentless pace of AI Capex and whether the Citrini paper and surrounding SaaSpocalypse fear had merit. Of course, in keeping with the Podcast’s core ambitions, we also quiz Ashley on her AI investment strategy, addressing US c...

In the latest Ben Squared podcast our resident pairing again discuss the developments in the Middle East and the impact upon investment strategy. No doubt the news flow is volatile and erratic but, on balance, the duo gently lean into what ‘could be’ an improving situation. The conversation also reflects on the early signals from earnings season and the latest inflation data, whilst also debating the potential relevance of this data in the face of the Middle East conflict. This podcast was recorded on 14th April 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does...

In the latest Ben Squared podcast our resident pairing discuss the prospect for stock markets in a perilous moment for US and Iranian negotiations. The conversation focuses on whether gains can be made even in the absence of a formal and clear de-escalation, though some time is made for a ‘modest’ good news story amidst UK economic fret. This podcast was recorded on 7th April 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.”

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In the latest Ben Squared podcast our resident expert guest, Ben Jones (Invesco Global Head of Research) has to deal with a panic-stricken host who is minded to liquidate his entire portfolio – selling equities, bonds and gold…. The lot! How will our guest respond? This podcast was recorded on 31st March 2026.  *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pairing discuss potential ‘high level’ scenarios for how the Middle East conflict may unfold, accompanied by probabilities, market predictions, and a whole heap of caveats and disclaimers. This scenario analysis is then discussed in the context of longer-term investment strategy, and the impact that has (or hasn’t) had. Finally, some time is dedicated to the UK mortgage market which is moving at quite a pace and presenting an increasing threat to the UK economy.

This podcast was recorded on 24th March 2026.  

*This podcast is for UK Professi...

In the latest Ben Squared podcast the resident pairing discuss the latest, investment relevant developments in the Middle East, and the impact upon investment strategy. The duo also reflect on a busy week ahead for Central Banks, anticipating interest rate decisions and communications, but also speculating how policy may evolve as we move through the year. This podcast was recorded on 16th March 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest episode of our award-winning series we are thrilled to welcome one of UK Wealth Management’s most lauded investment thinkers and strategists, Guy Foster, Chief Strategist at RBC Brewin Dolphin. The conversation begins with a review of the host’s and Guy’s overlapping working history, before a quick pivot to how Guy is approaching and managing the current geopolitical stress within his own investment strategy. As one might expect, some time is taken over this difficult and challenging task, but there is still room in the second half of the conversation to learn some of Guy’s...

In the latest Ben Squared podcast the resident pairing discuss the market’s increasing perception of a more drawn out conflict in the Middle East. What does this mean for the rotation trade, what does this mean for inflation and is the bond market reaction fair? This podcast was recorded on 9th March 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pairing discuss the dramatic developments in the Middle East, covering the market reaction across the major asset classes, the considered potential scenarios, and the overall impact upon investment strategy. This podcast was recorded on 2nd March 2026. *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pairing discuss the dramatic developments in US Trade policy, analysing both the SCOTUS ruling and the (more complex) POTUS response. Of course, as always, our focus is on the potential, and enduring, investment consequences. From there the conversation pivots to the ongoing rout in the Software segment of the US stock market, and whether an opportunity is emerging. To conclude the duo reflect on the recent UK data, and to the extent this might illicit a more dovish position from the Bank of England. This podcast was recorded on 24th February 2026.  

In the latest episode of our award-winning series we are thrilled to welcome one of Invesco’s most respected Fixed Income Fund Managers, Tom Hemmant, to the podcast. With a focus on the UK, the conversation covers the prospects for the economy, public finances, interest rate policy and, ultimately, the gilt market. Much of the conversation, however, is dedicated to the condition and health of the Sterling Investment Grade bond market, debating the value within the asset class at large, before taking a deeper dive into the Financials, Utilities and Real Estate sectors. Another really insightful conversation on this hi...

In the latest Ben Squared podcast the resident pairing discuss arguably the three most important macro drivers of capital markets, US Inflation, US Jobs and Artificial Intelligence. Specifically the conversation reflects on the recent data and why inflation data is printing a little more benign and the jobs data is a little more perky. The conversation then transitions to the topic of AI and how supportive, or perhaps threatening, this theme is to the labour market health. As is often the case, we conclude with comments on how the topics discussed are shaping our investment strategy.

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In the latest Ben Squared podcast the resident pairing discuss the dramatic domestic political news flow alongside the relative calm we have seen in currency and bond markets.

In addition, the duo debate the difficult period many AI related stocks are enduring, though again note the overall resilience of broader stock market performance - the rotation trade away from the loosely defined US Technology sector continues. Time is also afforded to review the stock market and currency impact of the Japanese election outcome, heightening political pressure for the incoming Fed Chair and the Bank of England’s do...

In the latest Ben Squared podcast the resident pairing discuss the dramatic moves we are seeing both from an asset class level and beneath the surface. We also offer comment on the official nomination for Federal Reserve Chair, Kevin Warsh, and the degree to which his reputation as a ‘hawk’ will prove justified.

This podcast was recorded on 2nd February 2026.

This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest episode of our award-winning series we are thrilled to welcome Invesco’s David Aujla back to the Podcast. David manages the Multi Asset Fund range at Invesco as well as the Model Portfolio Services. Within another engaging and entertaining conversation, David tackles the important high-level questions, including his asset allocation preferences, his regional preferences and his management of Geopolitical news flow. In addition, we also learn some very interesting insights on David’s implementation strategy, where he is seeking to find incremental returns for clients, both tactically and structurally.

This podcast is f...

In the latest Ben Squared podcast the resident pairing discuss the sensational form of both equity markets and precious metals, discussing what conviction remains to continue backing these assets and what risks are lurking… or even building? We also offer comment on the evolving expectations for the new US Federal Reserve Chair. This podcast was recorded on 27th January 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the latest Ben Squared podcast the resident pairing discuss the impact of President Trump’s pursuit of Greenland, on both current market form and longer-term investment strategy.

This podcast was recorded on 19th January 2026. 

This podcast is for UK Professional Clients Only. Capital at Risk.

Past performance does not predict future returns.

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In arguably the busiest Ben Squared podcast to date the pair cover off the drama surrounding the (current) Fed Chair, the US Jobs Report, the health of the US economy, Trump’s call for capping credit card lending rates, the start of US earnings season, speculation over the sovereignty of Greenland, the Iranian uprising, European fiscal stimulus and broad investment strategy… phew! This podcast was recorded on 13th January 2026. This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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In the first Ben Squared podcast of 2026, the resident pairing discuss the market impact of the startling US military operations in Venezuela, ‘our’ out of consensus call for lower US unemployment in 2026, and the great momentum UK stocks are currently enjoying. This podcast was recorded on 6th January 2026.   *This podcast is for UK Professional Clients Only. Capital at Risk. Past performance does not predict future returns.

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