Markets

OBR chair Richard Hughes quit as a result

Risks and opportunities

Markets now 'cautious'

AI investment also vital

As political shocks fade and macro forces realign, emerging market debt (EMD) enters 2026 with renewed resilience, strong technicals, and seven defining themes that set the stage for attractive income and selective alpha

Next move likely to be up, not down

Outflows sped up after 19 January

'Wait and see approach'

ECB expected to hold

Geopolitics swings in its favour