Recent stock market momentum appears to be fuelled as much by sentiment and expectation as by underlying economic fundamentals. Concerns over government deficits in both the UK and US remain front of mind. In the US, the proposed “big beautiful bill” may offer support to consumers, but also introduces fresh uncertainty surrounding inflationary pressure and future borrowing costs, a sentiment reflected in the continued weakening of the US dollar.
As we approach 9 July, the spotlight turns to trade negotiations, which may have further implications for market stability.
Read more from Premier Miton’s Managed Portfolio Service Investment team in their monthly update.
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