Markets in a Nutshell — September 2025

Foreword | Issue 75 | 3rd Quarter 2025

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MARKETS IN A NUTSHELL — FOR SEPTEMBER 2025

In the latest episode of our monthly podcast, ‘Markets in a Nutshell’, Linda Eedes breaks down the key market trends of September 2025. September capped off another strong month for risk assets, extending a remarkable rally across global markets. Listen to the episode as we unpack the drivers of these gains, including a surge in South African equities, a rise in emerging markets and continued strength in developed markets like the S&P 500.

MARKETS IN A NUTSHELL — FOR SEPTEMBER 2025

Markets commenced September full of optimism and ended it euphoric. The US Federal Reserve cut rates for the first time in a year, Wall Street set new records again, and Chinese technology shares rediscovered their swagger. Yet behind the market cheer, global growth may be faltering, and valuations look uncomfortably rich.

MARKETS IN A NUTSHELL — FOR AUGUST 2025

In our monthly podcast, ‘Markets in a Nutshell’, Linda Eedes breaks down the key market trends of August 2025. Despite some market turbulence, global markets saw gains in August, driven by positive corporate earnings and slowing inflation. Listen to the full podcast for insights on how political decisions impacted the US, the mixed performance of commodities, and the importance of cautious investing and diversified portfolios in a complex global economy.

MARKETS IN A NUTSHELL — FOR AUGUST 2025

Global markets moved higher in August, though the undercurrents were far from calm. Wall Street rose again, propelled by solid corporate earnings and fading inflationary pressures. European equities outperformed those in the US as banking profits lent support to markets, but in France, politics weighed on sentiment. In Asia, Chinese equities extended their rally as Beijing repeated its growth pledges and the tariff truce with Washington held.

MARKETS IN A NUTSHELL — FOR JULY 2025

In our monthly podcast, ‘Markets in a nutshell’, Linda Eedes unpacks July’s market performance. While global equities pushed higher, particularly in US and Chinese markets, underlying risks are emerging. US economic data showed mixed signals, with a rebound in growth but a weakening labour market. Meanwhile, rising tariffs and political pressures in the US raise concerns.

MARKETS IN A NUTSHELL — FOR JULY 2025

Global markets pushed higher again in July. US equities led the gains, with the index of the five hundred most valuable companies on US bourses making a slew of record highs. Blockbuster results from Big Tech giants Alphabet (Google), Meta (Facebook) and Microsoft powered markets. Chipmaker Nvidia — soon followed by Microsoft — became the first $4 trillion company by market cap on renewed AI hype. Elsewhere, Chinese equities bounced 4.5%, while European markets ended lower.