{"id":10676,"date":"2026-01-23T09:48:30","date_gmt":"2026-01-23T09:48:30","guid":{"rendered":"https:\/\/sarasinandpartners.com\/za\/think\/six-minute-strategy-loose-money-hard-power\/"},"modified":"2026-01-30T12:33:57","modified_gmt":"2026-01-30T12:33:57","slug":"six-minute-strategy-loose-money-hard-power","status":"publish","type":"post","link":"https:\/\/sarasinandpartners.com\/za\/think\/six-minute-strategy-loose-money-hard-power\/","title":{"rendered":"Six minute strategy: Loose money, hard power"},"content":{"rendered":"<p>While equity markets climbed in 2025, this often appeared counterintuitive given the challenges facing the global economy \u2013 including intensifying geopolitical rivalry and rising tariff barriers. The risk-led rally that followed US President Trump\u2019s 2 April speech on tariffs was driven largely by retail flows, high-<\/p>\n<p>2025 delivered an extraordinary sequence of geopolitical shocks \u2014 mostly coming directly, or indirectly, from the Trump White House. They began with the highest US tariffs in 80 years and ended the year with the capture of President Maduro. 2026 has already started with the escalation risk of US action in Greenland, against another NATO member.<\/p>\n<p>However, despite this uncertainty, risk assets have continued to march upwards with global equities, emerging markets, credit and commodities resolutely climbing and the dollar falling through 2025.<\/p>\n<p>Nevertheless, equity valuations are high, credit spreads are narrow, and Trump\u2019s latest clash over Greenland appears more deep-seated this time around. The continual ascent of the gold may also be the result of central bank \u2018hoarding\u2019 or it might carry a message of caution ahead.<\/p>\n<p>Guy Monson looks to address the question whether the extraordinary resilience of risk assets that we saw in 2025 can now be sustained into 2026.<\/p>\n<p>Watch the video below.<\/p>\n<p><div class=\"responsive-container\"><iframe title=\"NEW EPISODE: Loose money, hard power\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/A-fibZbgDCc?feature=oembed&enablejsapi=1&origin=https:\/\/sarasinandpartners.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div><\/p>\n<p><a href=\"https:\/\/sarasinandpartners.com\/wp-content\/uploads\/2026\/01\/Six-Minute-Strategy-January-23-2026-SP-web.pdf\" target=\"_blank\" rel=\"noopener\">Download the presentation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After what had been an almost uninterrupted bull run across global equity markets following President Trump\u2019s \u2018Liberation Day\u2019 speech on 2 April, markets have finally paused for breath.<\/p>\n","protected":false},"author":19,"featured_media":16738,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[140,28,148],"tags":[],"coauthors":[81],"class_list":["post-10676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economicview","category-markets","category-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Six minute strategy: Loose money, hard power - Sarasin &amp; 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