SpaceX Soars, The Fed Shifts and India Faces an AI Threat

📈 Download the full Portfolio Performance Slides View the portfolio breakdown: https://drive.google.com/file/d/17KUV... 📧 Get in touch: [email protected] 📱 Behind the scenes: _theartofinvesting on TikTok 🎧 Listen on Apple,: https://podcasts.apple.com/gb/podcast... 🎧 Listen on Spotify: https://open.spotify.com/show/4bmvfbD... This week on The Art of Investing, the team celebrate Episode 50, with Rich McDonald dialing in from the US alongside Mark “Spice” Holden, Chris “CJ” Fellingham and JP Smith. It’s been a standout week for markets and the portfolio, with equities and commodities pushing higher as falling oil prices, easing geopolitical tensions and central bank developments reshape the outlook. The team unpack the continued momentum in AI and global equities, the implications of SpaceX’s blockbuster IPO, and what shifting rate expectations mean for markets from here. This Week's Highlights: 🚀 SpaceX Soars The biggest IPO in history continues to dominate headlines, with SpaceX surging ~40% post-listing and reigniting debate around valuations and liquidity. 🌍 Markets Push Higher Global equities deliver a strong week, with multiple indices approaching or hitting all-time highs. 🛢️ Oil Prices Drop Sharply Oil falls ~15% as tensions ease, helping drive disinflation expectations and supporting risk assets. 🏦 Central Banks Take Centre Stage Major central banks meet this week, with the Fed’s new chair signalling a shift in thinking around inflation and policy. 📊 AI Momentum Continues Strong earnings and ongoing capital investment reinforce the structural AI growth story. 🇯🇵 Japan Remains Strong Japanese equities rally following rate clarity from the Bank of Japan and continued economic support. Portfolio Snapshot – Week 44: No changes were made to the portfolio this week. 📊 Weekly portfolio performance: +4.05% 📈 Total return since inception: +24.88% 📅 2026 year-to-date return: +12.35% Top Performers: 📈 BlackRock World Mining Trust PLC: +13.9% WoW 📈 iShares Nikkei 225 ETF: +10.6% WoW 📈 iShares Core MSCI EM IMI ETF: +7.4% WoW Underperformers: 📉 Cash: +0.1% WoW 📉 iShares UK Gilts 0–5yr ETF: +0.5% WoW 📉 iShares Core FTSE 100 ETF: +2.5% WoW Big Questions This Week: • Can AI-driven growth continue to support markets at current valuations? • Are interest rate expectations starting to shift meaningfully again? • Is the recent rally broadening beyond US tech and AI? • Does falling oil signal a more supportive macro environment? • Should the portfolio begin redeploying defensive allocations? What You’ll Learn: ✔️ Why falling oil prices are so important for inflation and markets ✔️ How central bank messaging is evolving under new leadership ✔️ What’s driving strength in commodities and global equities ✔️ Why Japan and emerging markets are outperforming ✔️ How the team are thinking about deploying cash in the portfolio Disclaimer: This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes. Your capital is at risk. The value of shares, ETFs and ETCs can fall as well as rise, which could mean getting back less than you originally put in.