UK inflation peaks as sterling hits post Brexit high

UK inflation has peaked and is now on a downward trajectory, market commentators have said, as today's figures from the Office for National Statistics (ONS) show the Consumer Price Index (CPI) dropped from a five-year high of 3.1% in November to 3% in December.

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Partner Insight: Markets hold steady amid uncertainty

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources. Despite geopolitical tensions and economic concerns, market sentiment remains resilient, with short-lived volatility spikes and credit spreads rallying in recent weeks. Against this backdrop, he highlights why his highest conviction forex position is a short US dollar against a basket of emerging market currencies.

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund

22 July 2025 • 5 min read