Markets now 'cautious'
Global inflation forecast at 3.4% in 2027
Fears over repeat of 2008
Tight spreads 'good for long-term investors'
BoE and IMF warnings
Also bullish on bonds
$3.5trn investment expected by 2030
30% NAV exposed to Mag Seven
UK growth revised upward to 1.3% for 2025/26