12th August 2025

Rathbones Asset Management - The Sharpe End podcast: Goldlinger

You may feel a sense of déjà vu this month, as the team once again talk tariffs after July’s trade deal deadline got pushed back and a raft of negotiations and agreements ensued. While markets now seem almost to ignore many of the tariff announcements, there’s some nervousness around the economic data coming out of the US — but how accurate is it really?

With frequent revisions (like the recent nonfarm payrolls), is it a true reflection of what’s actually happening? Next on the agenda is commodities: there’s been a fair amount of volatility, so what’s driving it and are the team finding any new opportunities? Finally, they discuss Thermo Fisher, a key player in life sciences and a long-term holding in the funds.

Listen here

Investments, Investment Commentary